https://www.taxtmi.com/caselaws?id=61474 The Tribunal ruled in favor of the assessees, determining that the trusts created for the welfare of employees should be taxed at the normal rate under cl. (iv) of the proviso to s. 164(1) instead of the maximum marginal rate. Emphasizing the importance of maintaining a positive employer-employee relationship through such trusts, the decision highlighted the consistent tax treatment based on the purpose of the trusts. As a result, all appeals were allowed, and the trusts were directed to be taxed at the normal rate applicable to Associations of Persons (AOPs). en-us Wed, 07 Jan 2004 00:00:00 +0530 Wed, 12 Jan 2011 17:14:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61474 The Tribunal ruled in favor of the assessees, determining that the trusts created for the welfare of employees should be taxed at the normal rate under cl. (iv) of the proviso to s. 164(1) instead of the maximum marginal rate. Emphasizing the importance of maintaining a positive employer-employee relationship through such trusts, the decision highlighted the consistent tax treatment based on the purpose of the trusts. As a result, all appeals were allowed, and the trusts were directed to be taxed at the normal rate applicable to Associations of Persons (AOPs). Case-Laws Income Tax Wed, 07 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61474