https://www.taxtmi.com/caselaws?id=57729 The Tribunal upheld the CIT(A)'s decision to compute the trust's income and allocate it to beneficiaries, dismissing the Revenue's appeal. It was found that the beneficiaries did not share a common interest in the trust business, and the trust should be assessed at the normal rate under section 161(1) of the IT Act. The Tribunal also confirmed that trustees were authorized to carry on business without explicit consent from beneficiaries, supported by previous case law and a High Court judgment. en-us Fri, 15 Feb 1991 00:00:00 +0530 Mon, 13 Dec 2010 11:50:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57729 The Tribunal upheld the CIT(A)'s decision to compute the trust's income and allocate it to beneficiaries, dismissing the Revenue's appeal. It was found that the beneficiaries did not share a common interest in the trust business, and the trust should be assessed at the normal rate under section 161(1) of the IT Act. The Tribunal also confirmed that trustees were authorized to carry on business without explicit consent from beneficiaries, supported by previous case law and a High Court judgment. Case-Laws Income Tax Fri, 15 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57729