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1998 (3) TMI 123 - HC - Income TaxExtract: .......discretionary trust and if discretionary, what should be the rate applicable to the assessee-trust. The answer will be in such a case the tax rate will be the maximum marginal rate. 10. In the result, we answer the question referred in the negative, i.e., in favour of the Revenue and against the assessee. The application is accordingly disposed of.
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