Law:

Section:

Section 10(24) of the Income-tax Act, 1961 - Exemption - Income of trade union - Assessment years 1974-75 and 1977-78 to 1979-80 - Assessee was an association registered under Trade Unions Act, 1926 - Main objects of it were to protect trade of members of association, regulating conduct of trade, arbitrating on matters of dispute, collection, classification, interpretation and circulation of statistics, etc. - Whether merely because one of the sixteen objects of assessee was for regulating relations between workmen and employer and/or between workmen and workmen, it could be said that assessee-association was primarily formed for that purpose and, therefore, entitled to exemption under section 10(24) - Held, no FACTS The assessee was an association registered under the Trade Unions Act, 1926. The objects of the assessee were to protect trade of members of association, regulating conduct of the trade, arbitrating on matters of dispute, collection, classification, interpretation and circulation of statistics. Out of sixteen objects one of the objects was to regulate relations between workmen and employers and/or between workmen and workmen. For the assessment years 1974-75 and 1977-78 to 1979-80, the assessee claimed exemption under section 10(24) which was disallowed. On second appeal, the Tribunal also held that the assessee was not entitled to exemption under section 10(24). On reference: HELD Merely because one of the sixteen objects of the association was for regulating relations between workmen and employers and/or between workmen and workmen, it could not be said that the association was primarily formed for that purpose. That apart, there was no finding of fact nor was it argued before the Tribunal that the assessee was mainly engaged in regulating relationship between the employers and workmen and workmen and workmen. The assessment order indicated that the assessee had very large income. But there was no indication that there was any expenditure on account of regulating relationship between the employers and workmen and workmen and workmen. Therefore, the Tribunal was justified in holding that the assessee was not entitled to exemption under section…

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