Law: Income Tax Ordinance, 1979

Section: 14,14(2),Second SchedulePartI,Cl(103)

Law: Cooperative Societies Act, 1925

Section: 33

(a) Income Tax Ordinance (XXXI of 1979)---S.14(2) & Second Sched., Part I, Cl(103)---S.R.O. 1081(1)/93, dated 1-11-1993--- Exemption---Assessee, a Cooperative Society registered under the Cooperative Societies Act, 1925---Transfer fee received from members of society and non-members was taxed by Assessing Officer for the Assessment years 1995-96 and 1996-97, was challenged--- Clause (103) of Second Sched., Part I, Income Tax Ordinance. 1979, granting exemption had been omitted by Notification No.S.R.O. 1081(1)/93, dated 1-11-1993--¬Proviso to the notification provided that existing beneficiaries to which Cl.(103) of Second Sched., to the Income Tax Ordinance, 1979 applied, shall continue to get benefit of exemption until period stipulated in the clause had expired---Plea that benefit of exemption shall continue till eternity as no period had been provided in said Cl.(103) was repelled by Appellate Tribunal holding that if such plea was accepted same would amount to do violence to the provisions contained in subsection (2) of S.14 of the Income Tax Ordinance, 1979. English and Scottish Joint Cooperative Wholesales Society Ltd v. Commissioner of Agricultural Income-tax, Asaam (1948) 16 ITR 270 (PC); C.I.T., Bombay City v. Royal Western India Turf Club Ltd. (1953) 24 ITR 551 (SC of India); C.I.T., West Bengal v. Calcutta Stock Exchange Association Ltd. (1959) 36 ITR 222 (SC of India); Delhi Stock Exchange Association Ltd. v. C.I.T., Delhi (1961) 41 ITR 495; Royal Western India Turf Club Ltd. v. C.I.T., Bombay City. (1970) 78 ITR 548: C.I.T. v. Madras Race Club (1976) 105 ITR 433; Jamshedpur Cooperative Stores Ltd v. C.I.T. (1986) 157 ITR 127 and Bihar Rajya Sikshat Sahyog Sangh Ltd. v. C I.T. (1987) 165 ITR 681 distinguished. (b) Interpretation of statutes----- ---- No provision of a statute is to be interpreted in such a way which may render other provisions as nugatory or redundant. (c) Income Tax Ordinance (XXXI of 1979)--- ----S. 14---Exemption--S.R.O. 1081(1)/93, dated 1-11-1993---Doctrine of mutuality ---Application---Cooperative Society received transfer fee from members and non-members and claimed exemption on the basis of doctrine of…

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