Supreme Court Allows Club's Appeal in Wealth Tax Case — Club Not Liable as Association of Persons Under Section 21AA of Wealth Tax Act. Members' Shares in Assets on Winding-Up Are Determinate Under Club Rules, and Club's Non-Commercial Character Excludes It from 'Association of Persons' in Taxing Statutes.
8 Sep 2020The Supreme Court allowed the appeals filed by Bangalore Club against the judgment of the Karnataka High Court, which had held the Club liable to pay ...
