https://www.taxtmi.com/caselaws?id=55476 The court ruled in three appeals concerning tax assessment of income from a discretionary trust. The income from the discretionary trust was not to be taxed at the maximum rate due to lack of production of the trust's will. Regarding the obligation of a trust to deduct tax at source on interest payments, it was held that in trusts with known individual or HUF beneficiaries, tax deduction at source was not required. However, for trusts with discretionary beneficiaries, the obligation to deduct tax applied. The assessing officer's interest levy was upheld in cases where tax was not deducted at source. en-us Mon, 03 Jun 1991 00:00:00 +0530 Sat, 27 Nov 2010 12:25:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55476 The court ruled in three appeals concerning tax assessment of income from a discretionary trust. The income from the discretionary trust was not to be taxed at the maximum rate due to lack of production of the trust's will. Regarding the obligation of a trust to deduct tax at source on interest payments, it was held that in trusts with known individual or HUF beneficiaries, tax deduction at source was not required. However, for trusts with discretionary beneficiaries, the obligation to deduct tax applied. The assessing officer's interest levy was upheld in cases where tax was not deducted at source. Case-Laws Income Tax Mon, 03 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55476