Tax certainty provided by Delhi High Court on taxability of Category III AIFs
In a recent ruling pronounced by the Hon’ble Delhi High Court in the case of Equity Intelligence AIF Trust vs the CBDT and Anr, the Court has provided the much-needed tax relief to Category III Alternative Investment Funds (‘AIF’) whereby the Hon’ble Court has confirmed that AIFs structured as trusts can be treated as ‘determinate trust’ even if the beneficiary names and the beneficial interests are not set out in the original trust deed, so long as they are identified post registration.
