https://www.taxtmi.com/caselaws?id=71472 An unincorporated members' club was treated as an association of persons but not as a taxable unit under the Wealth-tax Act, because section 3 did not contemplate such a club as an individual or other assessable entity. The scheme of section 4(1)(b) and rule 2 supported taxation at the level of the individual member, not the club. Section 21AA did not alter that position for a members' club, since members had no present share in the club's income or assets and only a contingent right on dissolution. The later amendment to section 45 also reinforced the view that social clubs remained outside wealth-tax liability, so the revenue's appeals failed. en-us Fri, 11 Dec 1992 00:00:00 +0530 Mon, 25 Apr 2011 10:44:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71472 An unincorporated members' club was treated as an association of persons but not as a taxable unit under the Wealth-tax Act, because section 3 did not contemplate such a club as an individual or other assessable entity. The scheme of section 4(1)(b) and rule 2 supported taxation at the level of the individual member, not the club. Section 21AA did not alter that position for a members' club, since members had no present share in the club's income or assets and only a contingent right on dissolution. The later amendment to section 45 also reinforced the view that social clubs remained outside wealth-tax liability, so the revenue's appeals failed. Case-Laws Wealth-tax Fri, 11 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71472