https://www.taxtmi.com/caselaws?id=424257 The Tribunal allowed the appeals filed by the Assessee against the Commissioner of Income Tax (Appeals) orders for Assessment Years 2016-17 & 2017-18. The Tribunal held that the maximum marginal rate of tax should not be applied to the Assessee trust's income below the taxable limit, and instead, the rate applicable to an association of persons should be used. The decision provided clarity on tax rates for trusts and ruled in favor of the Assessee for both years, emphasizing the correct interpretation of tax provisions for trusts. en-us Wed, 15 Jun 2022 00:00:00 +0530 Sat, 25 Jun 2022 09:19:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424257 The Tribunal allowed the appeals filed by the Assessee against the Commissioner of Income Tax (Appeals) orders for Assessment Years 2016-17 & 2017-18. The Tribunal held that the maximum marginal rate of tax should not be applied to the Assessee trust's income below the taxable limit, and instead, the rate applicable to an association of persons should be used. The decision provided clarity on tax rates for trusts and ruled in favor of the Assessee for both years, emphasizing the correct interpretation of tax provisions for trusts. Case-Laws Income Tax Wed, 15 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424257