Law:

Section:

Section 10(24) of the Income-tax Act, 1961 - Trade unions - Whether where object of union of truck owners was to raise social and economic level of truck operators, union was entitled to exemption under section 10(24) - Held, no Section 147 of the Income-tax Act, 1961 - Income escaping assessment - Whether since section 147 contemplates not only reassessment but assessment as well, it cannot be said that assessment is a condition precedent for issuing notice under section 147 - Held, yes - Tribunal held that even if assessments are completed in summary manner under section 143(1)(a), Assessing Officer can reopen assessment under section 147 even if assessee has disclosed all material facts in returns - Whether any question of law arose from Tribunal's order - Held, no CASE REFERRED TO Dy. CIT v. Marudhar Hotels (P.) Ltd. [2000] 245 ITR 138 (Raj.). [Para 7] Dinesh Mehta for the Appellant. JUDGMENT 1. This appeal under section 260A of the Income-tax Act is directed against the order of the Tribunal, Jodhpur Bench dated 22nd Feb., 2002. The appellant has framed as many as 9 substantial questions of law in para No. 10 of the memo of appeal. However, the learned counsel has pressed only question Nos. (ii), ( iii), (iv) and (v). The said questions as reproduced are as under : "(ii)Whether the income of the excess of receipts over expenditure of the appellant union was not exempt under section 10(24) of the Income-tax Act, particularly when the appellant union was duly registered under the Indian Trade Union Act, 1926 ? (iii)Whether in the facts and circumstances of the case, the appellant union, a union of truck owners was not a union of workers within the meaning of Trade Unions Act, 1926 (primarily formed with the view to regulate the relations between its members and the employers namely the transporters), was not entitled to claim exemption of income as provided under section 10(24) of the Income-tax Act, 1961 ? (iv)Whether in the facts and circumstances of the case, the learned authorities below were justified in holding that the Assessing Officer has rightly issued notice under section 147/148 of the Income-tax Act particularly when the limitation for issuing…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492