Bangalore Tribunal Recalls Order in Buckeye Trust Case: A Fresh Hearing Scheduled




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Bangalore Tribunal Recalls Order in Buckeye Trust Case: A Fresh Hearing Scheduled

 

In a surprising turn, the Bangalore ITAT has recalled its recent earlier order in the Buckeye Trust case in its entirety. The matter will now be heard afresh on February 19, 2025, giving stakeholders a renewed opportunity to present their arguments.

The earlier ruling had raised significant concerns for private discretionary trusts, particularly regarding the taxability of such trusts when the possibility of including non-relatives as beneficiaries exists. It will be fascinating to see if the Tribunal reconsiders its position or introduces fresh perspectives after the rehearing.

This development is a welcome relief for those impacted by the prior decision and highlights the dynamic nature of tax jurisprudence.

The Copy of the order is as under:

Buckeye-Trust-ITAT-order




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