Saturday 2 May 2015

ITAT directs AO to determine whether settler and beneficiary of trust are same before invoking sec.

IT : Where from orders of revenue authorities it appeared that there was confusion about facts whether settlor and beneficiary of trust were one and same and whether income arising from sale of shares by assessee-trust and distributed to beneficiaries was offered to tax by beneficiaries and assessed accordingly, matter was remanded for fresh consideration

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