TMI Blog2002 (7) TMI 56X X X X Extracts X X X X X X X X Extracts X X X X ..... r section 10(24) of the Income-tax Act, 1961? - (iv) Whetherthe learned authorities below were justified in holding that the Assessing Officer has rightly issued notice under section 147/148 of the Income-tax Act particularly when the limitation for issuing notice under section 143(2) of the Income-tax Act had not expired? - (v) Whether, in the facts and circumstances of the case, the income of the appellant-union was not exempted on the principles of mutuality in view of the law laid down by the Supreme Court in the cases of Chelmsford Club v. CIT and CIT v. Bankipur Club Ltd.?" - - - - - Dated:- 2-7-2002 - Judge(s) : N. N. MATHUR., H. R. PANWAR. JUDGMENT This appeal under section 260A of the Income-tax Act, 1961, is directed agai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upreme Court in the cases of Chelmsford Club v. CIT [2000] 243 ITR 89 and CIT v. Bankipur Club Ltd. [1997] 226 ITR 97?" As regards questions Nos. (ii) and (iii), it is contended by learned counsel that the appellant being a trade union registered under the Trade Unions Act is entitled for exemption under section 10(24) of the Income-tax Act. In order to claim exemption, the following conditions are required to be satisfied: (i) the trade union should be a registered union within the meaning of the Indian Trade Unions Act, 1926; (ii) the trade union should have been formed primarily for the purpose of regulating the relation between: (a) workmen and employers, or (b) workmen and workmen. It is submitted by Mr. Mehta that the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om the perusal of the facts of the case and the legal provisions, it is evident that even if assessments are completed in summary manner under section 143(1)(a) of the Act, the Assessing Officer can reopen the assessment under section 147 of the Act even if the assessee has disclosed all material facts in the returns filed by the assessee." Since section 147 contemplates not only reassessment but assessment as well, it cannot be said that the assessment is a condition precedent. No substantial question of law arises as framed on this court. Lastly, it is contended by learned counsel that income of the appellant-union could not be taxable on the plea of mutuality. The plea of mutuality can be attracted only where there is complete identity ..... X X X X Extracts X X X X X X X X Extracts X X X X
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