Supreme Court clarifies Wealth Tax on Clubs: Bangalore Club vs. Commissioner of Wealth Tax (2020)

/ Association of Persons, Income Tax Act, 1961, Income Tax Act, 1961 with Section 2(31), Indira Banerjee, Judges, Navin Sinha, R.F. Nariman, Wealth Tax Act, 1957, Wealth Tax Act, 1957 with Section 21AA

Supreme Court clarifies Wealth Tax on Clubs: Bangalore Club vs. Commissioner of Wealth Tax (2020) LEGAL ISSUE: Whether a members’ club is liable to pay wealth tax as an association of persons when the shares of its members are not indeterminate. CASE TYPE: Tax Law Case Name: M/S BANGALORE CLUB vs. THE COMMISSIONER OF WEALTH […]

Supreme Court clarifies Wealth Tax on Clubs: Bangalore Club vs. Commissioner of Wealth Tax (2020) Read Post »