https://www.taxtmi.com/caselaws?id=437727 The ITAT allowed the appeal for statistical purposes, directing the Assessing Officer to redetermine the family trust's tax liability by granting basic exemption and slab benefits instead of applying the maximum marginal rate. The ITAT also instructed the trust to cooperate with the AO for verification purposes. The ITAT consolidated the appeals for adjudication, with the results deemed applicable to both assessment years. Despite rejection by the AO and CIT(A) on technical grounds, the ITAT allowed the appeal, emphasizing the fulfillment of conditions for claiming exemptions and benefits by the family trust. en-us Mon, 05 Sep 2022 00:00:00 +0530 Sat, 13 May 2023 00:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437727 The ITAT allowed the appeal for statistical purposes, directing the Assessing Officer to redetermine the family trust's tax liability by granting basic exemption and slab benefits instead of applying the maximum marginal rate. The ITAT also instructed the trust to cooperate with the AO for verification purposes. The ITAT consolidated the appeals for adjudication, with the results deemed applicable to both assessment years. Despite rejection by the AO and CIT(A) on technical grounds, the ITAT allowed the appeal, emphasizing the fulfillment of conditions for claiming exemptions and benefits by the family trust. Case-Laws Income Tax Mon, 05 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437727