https://www.taxtmi.com/highlights?id=101306 Section 167B, which applies the maximum marginal rate where members' shares in an AOP or BOI are indeterminate or unknown, was held inapplicable to a society registered under the Karnataka Societies Registration Act, 1960 because the provision expressly excludes societies registered under the Societies Registration Act, 1860 or a corresponding law. The Tribunal therefore held that the apartment owners' welfare society was taxable at the normal applicable slab rates, not at the maximum marginal rate, with support from a coordinate bench decision and the Revenue's earlier acceptance of normal taxation. en-us Thu, 02 Jul 2026 08:07:08 +0530 Thu, 02 Jul 2026 08:07:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101306 Section 167B, which applies the maximum marginal rate where members' shares in an AOP or BOI are indeterminate or unknown, was held inapplicable to a society registered under the Karnataka Societies Registration Act, 1960 because the provision expressly excludes societies registered under the Societies Registration Act, 1860 or a corresponding law. The Tribunal therefore held that the apartment owners' welfare society was taxable at the normal applicable slab rates, not at the maximum marginal rate, with support from a coordinate bench decision and the Revenue's earlier acceptance of normal taxation. Highlights Income Tax Thu, 02 Jul 2026 08:07:08 +0530 https://www.taxtmi.com/highlights?id=101306