Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2017 Year 2017 This

Income relating to minor beneficiaries of the trust. - Since the ...


Trust Income for Minor Beneficiaries Disallowed Due to Lack of Evidence in Interest Computation by Assessee.

June 19, 2017

Case Laws     Income Tax     AT

Income relating to minor beneficiaries of the trust. - Since the assessee could not place any relevant evidence with regard to taking into account the interest received by the trust from the assessee while computing its income, the AO has rightly disallowed the claim of the assessee

View Source

 


 

You may also like:

  1. The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

  2. The Appellate Tribunal addressed the status of the assessee as a trust or AOP, focusing on the taxability of income in the hands of the Appellant Trust versus...

  3. The Income Tax Appellate Tribunal (ITAT) examined the taxability of income from a discretionary trust u/s 164(1) read with clause (ii) of Explanation 1 to Section 164 of...

  4. Denial of exemption u/s 10(23C)(iiiad), addition of unexplained cash credits u/s 69A. Registration granted u/s 12AA from 23-02-2019 indicating trust not exclusively...

  5. Trust - The beneficiaries have not set up the Trust. Therefore it cannot be said that the beneficiaries have come together with the object of carrying on investment in...

  6. Tax liability of trust - the purpose of tax under the Act, the Assessing Officer may be in a position to find out the status of the beneficiaries of the First Level...

  7. Addition of foreign dividend income belonging to two trusts - irrevocable trust created for the benefit of children - before proceeding to club the dividend income...

  8. Doctrine of diversion of income by overriding title - Tax liability on interest income of the trust - since assessee was a revocable trust and contribution by...

  9. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

  10. Income From other sources - The Appellate Tribunal addressed the disallowance of interest expenses u/s 57(iii) of the Act. The claim was denied due to lack of direct...

  11. Assessment order u/s 143(3) passed against an individual beneficiary, determining the primary assessee liable for taxation. The key points are: the assessment order was...

  12. Assessment of trust as Association of Persons (AOP) - family trust - rate of tax - maximum marginal rate or slab rates - Assessee family trust has only income from other...

  13. Assessment of trust/AOP - revocable trust - where a contribution is made in a manner that the contributors are entitled to recover their contributions over a specified...

  14. Reopening of assessment u/s 147 - Assessment of trust - There is a direct live link between the rental income received by the trust and the income shown by the...

  15. Assessment of trust - whether the assessee Trust is a determinate Trust or indeterminate Trust? - Once the benefits are to be shared by the beneficiaries in proportion...

 

Quick Updates:Latest Updates