https://www.taxtmi.com/caselaws?id=792415 A public charitable trust assessed as an association of persons was held not liable to tax at the maximum marginal rate under section 167B where the trustees or members had no defined share in the income. Relying on CBDT Circular No. 320 dated 11.01.1982 and prior similar decisions, the Tribunal noted that such trusts are to be taxed at the ordinary rates applicable to an association of persons. The circular was treated as binding on the Revenue, and section 167B was held inapplicable on these facts. en-us Thu, 29 Jan 2026 00:00:00 +0530 Thu, 28 May 2026 08:21:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792415 A public charitable trust assessed as an association of persons was held not liable to tax at the maximum marginal rate under section 167B where the trustees or members had no defined share in the income. Relying on CBDT Circular No. 320 dated 11.01.1982 and prior similar decisions, the Tribunal noted that such trusts are to be taxed at the ordinary rates applicable to an association of persons. The circular was treated as binding on the Revenue, and section 167B was held inapplicable on these facts. Case-Laws Income Tax Thu, 29 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792415