Case Details

Citation(s)
2003 SLG 833 2003 SLD 833 2003 PTD 510 (2001) 250 ITR 863
Supreme Court of India
Civil Appeal No.3314 of 1995, decision dated: 31st January, 2001. (Appeal by special leave from the judgment and order, dated July 28, 1986 of the Bombay High Court in W. P. No. 1811 of 1982)
S. P. BHARUCHA, N. SANTOSH HEGDE AND Y.K. SABHARWAL, JJ
S. Ganesh, Rajiv Tyagi, B.V.B. Das and Ms. Sushma Suri, Advocates for Appellant. Shri Narain, Sandeep Narain and Mrs. Anjali Verma, Advocates

COMMISSIONER OF WEALTH TAX and another

VS

BOMBAY CRICKET ASSOCIATION

Law:

Section:

Wealth tax -----Assessee---Association registered under Bombay Public Trusts Act--­Granted certificate under S.80G of Income Tax Act as established for charitable purposes and under S.10(23) that its income was exempt---Not assessable entity under Wealth Tax Act-- Notice to bring to tax wealth escaping assessment---Invalid---Wealth Tax Act, 1957, Ss.3, ,5(1)(i) & 17---Indian Income Tax Act, 1961, Ss.10(23) & 80G---BombaY Public Trusts Act, 1950. The assessee, an association for promoting the game of cricket was registered under the Bombay Public Trusts Act, 1950 and under the Societies Registration Act, 1860. It was issued a certificate under section 80G of the Income Tax Act, 1961, certifying that it was established for charitable purposes as well as a certificate under section 10(23) of that Act whereby its income was exempt from income­tax. The Wealth Tax Officer issued notices under section 17 of the Wealth Tax Act, 1957, seeking to bring to tax its net wealth on the ground that it had escaped…
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