TMI Blog2022 (9) TMI 768X X X X Extracts X X X X X X X X Extracts X X X X ..... idual' 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITBA/NFAC/S/250/2021-22/1042324338(1), in proceedings under section 154 of the Income Tax Act, 1961; in short the Act . 2. The assessee has taken the following grounds of appeal:- 1. The CIT(A) erred in holding that the appellant was liable to tax at the maximum marginal rate. This was the only trust created under a will and hence was liable to be taxed as in individual. 3. The brie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Late Mr. Manilal Fulchand Mehta in which the discretionary trust was created with Mr. Anil Mehta and Mr. Pranav Mehta as trustees and it is created for benefit of Anil Mehta , Pranav Mehta and any other member added to the family on A/c of birth or marriage and the benefits to be distributed in whatever ratio the trustees decide. 5. In this case, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed under a will, in view of the decision of the Gujarat High Court in the case of Deepak Family Trust supra , the assessee trust was required to be assessed at individual rates of taxation and not at the maximum marginal rate of taxation, as done in the present case. In response, DR relied on the observations made in the order passed by Ld. CIT(A). 5. We have heard the rival contentions and pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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