https://www.taxtmi.com/caselaws?id=55983 The Tribunal partly allowed the appeals, confirming that the assessees, private discretionary trusts, were liable to tax at the rates prescribed in s. 21(4) or at the rates specified in Part I of the Schedule, without the benefit of the initial exemption. The decision was influenced by significant Supreme Court judgments and the need to align with the legislative intent behind s. 21(4), emphasizing the importance of following the Supreme Court's interpretation over conflicting High Court decisions. en-us Wed, 27 Mar 1996 00:00:00 +0530 Wed, 01 Dec 2010 09:49:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55983 The Tribunal partly allowed the appeals, confirming that the assessees, private discretionary trusts, were liable to tax at the rates prescribed in s. 21(4) or at the rates specified in Part I of the Schedule, without the benefit of the initial exemption. The decision was influenced by significant Supreme Court judgments and the need to align with the legislative intent behind s. 21(4), emphasizing the importance of following the Supreme Court's interpretation over conflicting High Court decisions. Case-Laws Wealth-tax Wed, 27 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55983