Taxation of AOP: ITAT Allows Normal Tax Rates for Charitable Trust, Sets Aside CIT(A)’s Order [Read Order]

Referring to CBDT Circular No. 320, which clarified that trusts where trustees had no individual shares were not subject to the maximum marginal rate
By Sneha Sukumaran Mullakkal - On March 14, 2025 3:10 pm - 3 mins read
Taxation of AOP - Normal Tax Rates - Charitable Trust - taxscan

The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that a charitable trust, classified as an Association of Persons ( AOP ), should be taxed at normal rates instead of the maximum marginal rate (MMR), setting aside the Commissioner of Income Tax(Appeals)[CIT(A)]’s order. National Association of Interlocking Surgeons, appellant-assessee, filed its return…

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