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2022 (9) TMI 768 - Income Tax
Assessment of trust - status as individual or AOP - Tax at the maximum marginal rate - trust created under a will and hence was liable to be taxed as in individual - Whether trustees of a discretionary trust have to be assessed in status of 'individual' and not in status of 'association of persons? - HELD THAT:- We have heard the rival contentions and perused the material on record. We observe that the Ld. CIT(A) dismissed the assessee’s appeal in a very summary manner, without considering the impact of the decision the case of Deepak Family Trust supra. Accordingly, the interest of justice, the case is being set aside to the file of the Ld. CIT(A) for de novo adjudication, after giving adequate opportunity of hearing to the assessee and after taking into consideration the impact of the decision in the Gujarat High Court in the case of Deepak Family Trust [1993 (12) TMI 20 - GUJARAT HIGH COURT]
Appeal of the assessee is allowed for statistical purposes.