TMI Blog1942 (11) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Hon'ble the Chief Justice). The questions referred by the Income-tax Appellate Tribunal relate to the liability of the Bar Council of Madras to income-tax. The Income-tax authorities have imposed a tax on the income of the Council for the years 1939-40 and 1940-41. In the previous years no tax was levied, it being taken that the income of the Council was not taxable under the Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olding and conduct of examinations. Section 3 of the Income-tax Act which is the charging section makes, inter alia, an individual or association of persons liable to pay the tax on income. The Council has been taxed as an individual and there can be no doubt that it is an individual or association of persons within the meaning of the section. Therefore its income is taxable unless exemption is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order, which confirmed the Income-tax Officer's order, to the Income-tax Appellate Tribunal, which agreed with the Income-tax authorities that this clause did not exempt the income of the Council. Now, it is clear that it does exempt income derived from the investments of the Council if these investments are held by the Council for educational purposes. This aspect of the case has not been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the case will stand out of the list until next Monday. If it is possible, as it appears likely, that an agreement may be arrived at, it will not be necessary for this Court to answer the reference. This case coming on for further hearing on 9th November 1942 the Court made the following:- (The order of the Court was delivered by the Hon'ble the Chief Justice.) The learned Advocat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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