Tribunal Directs Trust Taxation u/s 164(2) of Income Tax Act, Overruling Assessing Officer's Decision.

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....Assessment of trust - Rate of Tax - Maximum Marginal Rate (MMR) - The ld. AR of the assessee argued that the trust should be taxed based on the specific provision of section 164(2) of the Act, rather than section 164(1) as applied by the AO. The Tribunal agreed with the ld. AR's interpretation, citing similar precedents and provisions of the Income Tax Act. It directed the Assessing Officer to charge the assessee as per the provisions of Section 164(2) of the Act.....