https://www.taxtmi.com/caselaws?id=427364 The High Court ruled in favor of the appellant, clarifying that Trust income should be taxed only once, either in the hands of the Trust or the beneficiaries, to avoid double taxation. The Court found the ITAT's decision to reclassify tax as unsustainable, based on relevant legal provisions and a Circular emphasizing single taxation principles. As a result, the appeal was allowed without costs, resolving the issue of double taxation raised by the Revenue in favor of the appellant. en-us Tue, 16 Aug 2022 00:00:00 +0530 Wed, 07 Sep 2022 06:47:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427364 The High Court ruled in favor of the appellant, clarifying that Trust income should be taxed only once, either in the hands of the Trust or the beneficiaries, to avoid double taxation. The Court found the ITAT's decision to reclassify tax as unsustainable, based on relevant legal provisions and a Circular emphasizing single taxation principles. As a result, the appeal was allowed without costs, resolving the issue of double taxation raised by the Revenue in favor of the appellant. Case-Laws Income Tax Tue, 16 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427364