High Court of Judicature at Bombay Adjudicates Income Tax Appeal on the Tax Status of a Private Trust and Disallowance of Interest under Section 40(b) of the Income Tax Act, 1961. The Appeal Raises the Substantial Question Whether the Tribunal Correctly Held the Trust to be an Association of Persons and Upheld the Disallowance of Rs.12,17,190 Paid to Beneficiaries....
The appeal before the High Court of Judicature at Bombay arose under Section 260A of the Income Tax Act, 1961, relating to Assessment Year 2002-2003. The assessee, Mehta Jaising Construction, was cons...
