Tribunal held that the assessee being a religious Trust maintaining a temple, its beneficiaries are the general public and, therefore, it is liable to tax at the rates applicable to AOP/individual in view of the specific provision of s. 164(2) and not at maximum marginal rate. The Revenue Department website also advises that the tax rate of the trust is as applicable to the individual. The assessee has been granted registration certificate under S. 12A, benefit of deduction of the expenditure claimed by the assessee as per object of the trust is allowable. (AY. 2013-14 to 2017-18)
Shri Digambar Jain Mandir Trust v. ACIT (2024) 230 TTJ 1 (UO (Jodhpur) (Trib)
S. 164 : Representative assessees-Charge of tax-Beneficiaries unknown-Trust-Maximum marginal rate-Temple-Income from charity received from devotees coming to the temple and interest on bank deposits-Beneficiaries are general public-Revenue Department website also advises that the tax rate of the trust is as applicable to the individual-The tax rate as specified in S. 164(2) will apply to the AOP/Individual and the initial exemption is also available [S.2(37), 12A,164(1) 164 (2)]