https://www.taxtmi.com/caselaws?id=334519 Receipts of a registered trade union arising from settlement agreements with workers and employers were treated as incidental to its objects of negotiating industrial disputes, not as consideration for carrying on a profession or business. The Tribunal found no contrary material to show the contributions were involuntary or commercial in nature, and held that the receipts were exempt under section 10(24) of the Income-tax Act, 1961. It also relied on the mutual character of the union's funds, noting that surplus could ultimately be applied for members' benefit under the Trade Unions Act. The receipts were therefore non-taxable in the assessee's hands. en-us Tue, 08 Nov 2016 00:00:00 +0530 Tue, 15 Nov 2016 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334519 Receipts of a registered trade union arising from settlement agreements with workers and employers were treated as incidental to its objects of negotiating industrial disputes, not as consideration for carrying on a profession or business. The Tribunal found no contrary material to show the contributions were involuntary or commercial in nature, and held that the receipts were exempt under section 10(24) of the Income-tax Act, 1961. It also relied on the mutual character of the union's funds, noting that surplus could ultimately be applied for members' benefit under the Trade Unions Act. The receipts were therefore non-taxable in the assessee's hands. Case-Laws Income Tax Tue, 08 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334519