https://www.taxtmi.com/caselaws?id=764992 The court concluded that the rental income received by the assessee trust should be classified as "income from house property" rather than "business income," following the precedent set by the SC in Raj Dadarkar & Associates. Additionally, the court ruled that the beneficiaries of the trust are entitled to the credit for Tax Deducted at Source (TDS) on the rental income, as they had declared this income in their individual tax returns and paid taxes accordingly. The appeal filed by the assessee was allowed in full, affirming the trust's position on both issues. en-us Mon, 20 Jan 2025 00:00:00 +0530 Wed, 22 Jan 2025 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764992 The court concluded that the rental income received by the assessee trust should be classified as "income from house property" rather than "business income," following the precedent set by the SC in Raj Dadarkar & Associates. Additionally, the court ruled that the beneficiaries of the trust are entitled to the credit for Tax Deducted at Source (TDS) on the rental income, as they had declared this income in their individual tax returns and paid taxes accordingly. The appeal filed by the assessee was allowed in full, affirming the trust's position on both issues. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764992