https://www.taxtmi.com/caselaws?id=56002 The ITAT dismissed the Revenue's appeal regarding the addition of surplus in the client's account, affirming that funds held by advocates in a fiduciary capacity do not constitute their income. Additionally, the ITAT allowed the assessee's appeal concerning the treatment of interest earned on clients' money, ruling that such interest should also be considered as funds held in a fiduciary capacity. The judgment clarifies the taxation of amounts received from clients by advocates, aligning with legal principles and precedents emphasizing the fiduciary nature of such funds. en-us Wed, 04 Mar 1998 00:00:00 +0530 Wed, 01 Dec 2010 10:48:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56002 The ITAT dismissed the Revenue's appeal regarding the addition of surplus in the client's account, affirming that funds held by advocates in a fiduciary capacity do not constitute their income. Additionally, the ITAT allowed the assessee's appeal concerning the treatment of interest earned on clients' money, ruling that such interest should also be considered as funds held in a fiduciary capacity. The judgment clarifies the taxation of amounts received from clients by advocates, aligning with legal principles and precedents emphasizing the fiduciary nature of such funds. Case-Laws Income Tax Wed, 04 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56002