INCOME TAX : Assessee-trust set up by Asset Reconstruction Co. (India) in pursuance to SARFAESI Act and RBI Guidelines for purpose of liquidating/recovering NPAs acquired from banks Assessing Officer had held that assessee was an Association of Persons(AOP) and not a trust and brought to tax entire surplus in income and expenditure accountINCOME TAX : Assessee-trust set up by Asset Reconstruction Co. (India) in pursuance to SARFAESI Act and RBI Guidelines for purpose of liquidating/recovering NPAs acquired from banks Assessing Officer had held that assessee was an Association of Persons(AOP) and not a trust and brought to tax entire surplus in income and expenditure accountwww.taxmann.com Latest Case LawsRead More