https://www.taxtmi.com/caselaws?id=61965 A members' club registered as a society was treated as outside the wealth-tax net because its members had no proprietary share in the club's assets during its existence or on dissolution, and the property vested in the executive committee as trustees. The dissolution clause, requiring transfer of assets to Government or another similar society, reinforced the absence of divisible member interests. Relying on jurisdictional and Andhra Pradesh High Court reasoning, the analysis states that such a club was not taxable as an association of persons under section 3 of the Wealth-tax Act, 1957, and section 21AA did not expand the charging provision to cover a club with no indeterminate or divisible member shares. en-us Wed, 31 Jan 2001 00:00:00 +0530 Mon, 17 Jan 2011 13:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61965 A members' club registered as a society was treated as outside the wealth-tax net because its members had no proprietary share in the club's assets during its existence or on dissolution, and the property vested in the executive committee as trustees. The dissolution clause, requiring transfer of assets to Government or another similar society, reinforced the absence of divisible member interests. Relying on jurisdictional and Andhra Pradesh High Court reasoning, the analysis states that such a club was not taxable as an association of persons under section 3 of the Wealth-tax Act, 1957, and section 21AA did not expand the charging provision to cover a club with no indeterminate or divisible member shares. Case-Laws Wealth-tax Wed, 31 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61965