Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (2) TMI 2004 - AT - Income TaxPenalty levied u/s.271(1)(c) - trust deed does not have the name of the investors and does not specified the beneficial interest income Sec.164 would come into play AND consequential taxation of the interest income from the Fixed Deposits - HELD THAT:- A perusal of the order of the Tribunal in own case clearly shows that in the case of the assessee, the Tribunal has given a categorical finding that the assessee is a determinate trust - Tribunal has restored the issue in respect of the correct income that is liable to be taxed to the file of the AO. This being so, it is noticed that the issues on which the penalty has been levied, no more survive. Consequently, we find no error in the order of the Ld.CIT(A) which calls for any interference. Consequently, the appeals filed by the Revenue are dismissed.
|