https://www.taxtmi.com/caselaws?id=57494 The judgment determined that the income from a nursing home operated by a Trust constitutes business income under section 161(1A) of the Income Tax Act. The Commissioner's order for a fresh assessment at the maximum marginal rate was modified by the Tribunal, directing individual assessments of beneficiaries at the maximum marginal rate on their respective incomes. The distinction between professional income and business income was emphasized, with the operation of the nursing home involving commercial elements, leading to the classification of the income as business income. en-us Tue, 28 Feb 1995 00:00:00 +0530 Fri, 10 Dec 2010 14:54:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57494 The judgment determined that the income from a nursing home operated by a Trust constitutes business income under section 161(1A) of the Income Tax Act. The Commissioner's order for a fresh assessment at the maximum marginal rate was modified by the Tribunal, directing individual assessments of beneficiaries at the maximum marginal rate on their respective incomes. The distinction between professional income and business income was emphasized, with the operation of the nursing home involving commercial elements, leading to the classification of the income as business income. Case-Laws Income Tax Tue, 28 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57494