https://www.taxtmi.com/caselaws?id=424186 The Tribunal ruled in favor of the trust, concluding that the normal rate applicable to individuals, considering the basic exemption limit, should be applied to the trust's income. Despite not being registered under section 12A of the Act, the trust's structure as a public charitable trust, with no entitlement of members or trustees to any income share, led to the decision. The appeal for both assessment years, 2016-17 and 2017-18, was allowed, overturning the application of the maximum marginal rate of tax. en-us Fri, 20 May 2022 00:00:00 +0530 Fri, 24 Jun 2022 07:46:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424186 The Tribunal ruled in favor of the trust, concluding that the normal rate applicable to individuals, considering the basic exemption limit, should be applied to the trust's income. Despite not being registered under section 12A of the Act, the trust's structure as a public charitable trust, with no entitlement of members or trustees to any income share, led to the decision. The appeal for both assessment years, 2016-17 and 2017-18, was allowed, overturning the application of the maximum marginal rate of tax. Case-Laws Income Tax Fri, 20 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424186