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ITAT Remands Trust Loss Assessment Before Allowing Beneficiary’s Share
Case Law Details
- Case Name
- DCIT Vs Smt.Indira Kamineni (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Hyderabad
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DCIT Vs Smt.Indira Kamineni (ITAT Hyderabad)
The Income Tax Appellate Tribunal (ITAT), Hyderabad, disposed of the Revenue’s appeal against the order of the Commissioner of Income Tax (Appeals), NFAC, for Assessment Year 2018-19.
The assessee, an individual and a 70% beneficiary of KSN Trust, filed a return under Section 139(1) declaring nil income. During scrutiny assessment, the Assessing Officer found that KSN Trust had reported losses of ₹1,73,62,048 under the head “Income from House Property” and ₹1,66,15,605 under the head “Income from Other Sources.” Bas...
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