https://www.taxtmi.com/caselaws?id=28750 The High Court upheld the Tribunal's decision, ruling in favor of the Revenue. The judgment clarifies the tax treatment of trust income under Section 164, emphasizing the precedence of the specified tax rate over any basic exemption provided by the Finance Act. Each party was ordered to bear its own costs in the case. en-us Tue, 16 Mar 1982 00:00:00 +0530 Thu, 25 Feb 2010 14:48:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28750 The High Court upheld the Tribunal's decision, ruling in favor of the Revenue. The judgment clarifies the tax treatment of trust income under Section 164, emphasizing the precedence of the specified tax rate over any basic exemption provided by the Finance Act. Each party was ordered to bear its own costs in the case. Case-Laws Income Tax Tue, 16 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28750