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2011 (11) TMI 268 - HC - Income TaxStatus of Trust - individual or association of persons- Held That:- while determining the total income of a trustee who is an individual, the individual trustee is entitled to deduction under Section 80L of the Act. - After the advent of Section 161(1A) of the Act, the issue has been settled by this Court in Commissioner of Income Tax v. Manoranjitham Thanga Maligai Trust, (2002 -TMI - 12013 - MADRAS High Court), wherein the person referred to has been held to be the individual beneficiary and not association of persons Taxation of Income of Trust - In view of Commissioner of Income Tax v. T.A.V.Trust (2003 -TMI - 11514 - KERALA High Court), any income in respect of which a representative assessee is liable consists of, or includes, profits and gains of business, tax shall be charged on the whole of the income in respect of which such person is so liable at the maximum marginal rate.
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