https://www.taxtmi.com/caselaws?id=55663 The tribunal upheld the jurisdiction of the CIT under section 263, ruling that the CIT's powers extend to revising orders even if passed based on instructions from the IAC. It clarified that the merger of the ITO's order with the CIT(A)'s order is partial, allowing the CIT to exercise jurisdiction under section 263 for matters not considered in the appeal. Regarding the applicability of the maximum marginal rate under section 164(1), the tribunal differentiated between different types of trusts, applying the rate based on the nature of the trusts' beneficiaries. The direction to disallow interest payable to trusts was set aside for lack of sustained reasoning. en-us Fri, 24 Jan 1992 00:00:00 +0530 Mon, 29 Nov 2010 12:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55663 The tribunal upheld the jurisdiction of the CIT under section 263, ruling that the CIT's powers extend to revising orders even if passed based on instructions from the IAC. It clarified that the merger of the ITO's order with the CIT(A)'s order is partial, allowing the CIT to exercise jurisdiction under section 263 for matters not considered in the appeal. Regarding the applicability of the maximum marginal rate under section 164(1), the tribunal differentiated between different types of trusts, applying the rate based on the nature of the trusts' beneficiaries. The direction to disallow interest payable to trusts was set aside for lack of sustained reasoning. Case-Laws Income Tax Fri, 24 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55663