https://www.taxtmi.com/caselaws?id=473205 The maximum marginal rate applies to the computed total income of an association of persons whose members' shares are indeterminate, rather than to its gross donation receipts. Expenditure claimed against donations is relevant to computing total income, and the rate is applied to that income rather than to the total receipts before computation. en-us Mon, 22 Apr 2013 00:00:00 +0530 Sat, 07 Nov 2026 11:30:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=473205 The maximum marginal rate applies to the computed total income of an association of persons whose members' shares are indeterminate, rather than to its gross donation receipts. Expenditure claimed against donations is relevant to computing total income, and the rate is applied to that income rather than to the total receipts before computation. Case-Laws Income Tax Mon, 22 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=473205