https://www.taxtmi.com/caselaws?id=55532 The Tribunal upheld the decision to tax the assessee-trust at the normal rate, clarifying that its beneficial share income in Sharda Trust was only 5%. It found no evidence supporting the Revenue's claim that the trust arrangement was a tax avoidance device. The Tribunal also agreed with the deletion of interest charged under section 217 of the IT Act, 1961. The appeals by the Revenue were dismissed, affirming the first appellate authority's findings. en-us Tue, 12 Sep 1995 00:00:00 +0530 Sat, 27 Nov 2010 15:42:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55532 The Tribunal upheld the decision to tax the assessee-trust at the normal rate, clarifying that its beneficial share income in Sharda Trust was only 5%. It found no evidence supporting the Revenue's claim that the trust arrangement was a tax avoidance device. The Tribunal also agreed with the deletion of interest charged under section 217 of the IT Act, 1961. The appeals by the Revenue were dismissed, affirming the first appellate authority's findings. Case-Laws Income Tax Tue, 12 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55532