https://www.taxtmi.com/caselaws?id=782859 ITAT held that s.167B is inapplicable where the sole beneficiary of a trust is a Deity whose beneficial interest and share of income are definite and not indeterminate. The trust, created in 1958, irrevocably mandates that its entire income be used for the upkeep of the Deity, making the Deity the sole and determinate beneficiary. As the Deity is a juristic person assessable in the status of an "individual," the income of the trust is chargeable at the normal slab rates applicable to an individual and not at the maximum marginal rate. The assessee's appeal was allowed. en-us Mon, 25 Aug 2025 00:00:00 +0530 Thu, 04 Dec 2025 10:44:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782859 ITAT held that s.167B is inapplicable where the sole beneficiary of a trust is a Deity whose beneficial interest and share of income are definite and not indeterminate. The trust, created in 1958, irrevocably mandates that its entire income be used for the upkeep of the Deity, making the Deity the sole and determinate beneficiary. As the Deity is a juristic person assessable in the status of an "individual," the income of the trust is chargeable at the normal slab rates applicable to an individual and not at the maximum marginal rate. The assessee's appeal was allowed. Case-Laws Income Tax Mon, 25 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782859