Wealth Tax Liability - Whether Club can be treated as ...

Supreme Court Rules: Clubs Not Automatically "Associations of Persons" for Wealth Tax Despite Income Tax Classification.

September 12, 2020

Case Laws     Wealth-tax     SC

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of the Revenue rejected, that being taxed as an association of persons under the Income Tax Act, the Bangalore Club must be regarded to be an ‘association of persons’ for the purpose of a tax evasion provision in the Wealth Tax Act as opposed to a charging provision in the Income Tax Act. - SC

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