1953 (10) TMI 9 - SUPREME COURT

Whether the first three items are receipts from business carried on by the company?

Whether those three items are receipts by a trade or professional or similar association performing specific services for its members for remuneration definitely related to those services?

Held that:- All the items of receipts from members referred to in the questions were received by the company from business with its members within the meaning of Section 10(1) and that none of them was received by the company as a trade, professional or similar association within the meaning of Section 10(6). In our judgment the High Court should have answered question No. 1 in the affirmative and question No. 2 in the negative. The appeal is allowed