TMI Blog2017 (10) TMI 375X X X X Extracts X X X X X X X X Extracts X X X X ..... Madras High Court in the case of Anasuya Muthanna Vs. CIT (1996 (4) TMI 15 - MADRAS High Court ) held that where share of beneficiary is unknown and undeterminate, the assessee trust is subject to maximum marginal rate, In my view, appellant trust is discretionary trust. Hence, it is liable to be assessed as per the provisions of Sec.164(1). Assessing Officer’s action of charging maximum marginal rate is in order - Decided against assessee. - ITA No. 60/VIZ/2017 - - - Dated:- 6-10-2017 - Shri V. Durga Rao, Hon'ble Judicial Member Assessee by : None Department By : Shri R.S. Aravindaksham - Sr.DR ORDER This is an appeal filed by the assessee against the order of Commissioner of Income Tax (Appeals), Vijayawada, date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its income derived from the property held under trust is applied to such purposes in India (as per Sec. 11(1)(a) 11(1)(b) of the IT Act.) 6.1 The details of appellant s income and expenditure account for Assessment Year 2010-11 are as follows:- Rental receipt received by appellant ₹ 1,15,440 Add: Interest on bank S.B. A/c ₹ 1,974 Total gross receipt of income ₹ 1,17,414 Less: Municipal taxes paid ₹ 14,775 Other expenditure like puja/salary/ Electrical charges ₹ 30,802 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6.5 Appellant in his rectification petition dated 30.04,2013 claimed that it had to be taxed as an AQP at normal slab rates of income tax. It claimed this as a mistake apparent from record. In my view, determination of status of appellant (either AOP or otherwise) requires a long-drawn process of reasoning on points on which there will be two opinions. It is not a mistake apparent on record. 6.6 Hon ble Madras High Court in the case of Anasuya Muthanna Vs. CIT (1998) 232 ITR 561 (Mad) held that where share of beneficiary is unknown and undeterminate, the assessee trust is subject to maximum marginal rate, In my view, appellant trust is discretionary trust. Hence, it is liable to be assessed as per the provisions of Sec.164(1). Assessi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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