TMI BlogHigh Court: Section 164 of Income Tax Act applies maximum marginal rate to trustees accountable only to direct trust beneficiaries.Maximum marginal rate u/s 164 - answerability of trustees to beneficiary is limited to beneficiary of a particular trust as per Trust Act and it cannot be stretched or reached to beneficiaries of beneficiary and then against beneficiaries’ beneficiary. - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
|