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2012 (7) TMI 583 - AT - Income TaxTaxability of Income as assessee trust - maximum marginal rate. - CIT(A) held that the trust cannot be held as an association of a person as the constituent persons have not come together to earn income in question - DR asked for the applicability of sec 161(1A) in respect of the license fee received by the assessee trust in subletting out the property in question - Held that:- The provisions of sec. 161 (1A) are applicable only when the income of the trust is business income and the activity of subletting is a single isolated activity and there is no structured, systematic activity with frequency, therefore, the addition is not sustainable - the individual income has been already taxed in their hands as stated by the appellant, there can be no double taxation of the same amount - the assessee trust merely sub-let out the leased property and the income is held to be liable to tax as income from other sources and not income from house property or income from business - provisions of sec. 161(1A) are not applicable in the case of the assessee. - in favour of assessee.
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