https://www.taxtmi.com/caselaws?id=189721 An association incorporated under section 26 of the Indian Companies Act remained assessable to income-tax because no exemption arose merely from its non-profit character or from the inapplicability of section 48 of the 1922 Act. Receipts by way of commission and registration fees from members, and outsider payments routed through members, were treated as outside taxable income on the footing that they were not taxable as business income or under any other head considered. The association was not a charitable institution under section 4(3)(ii) because its objects served trade facilities and member interests rather than general public utility. Voluntary charity expenditure did not create a separate tax exemption. en-us Mon, 06 Apr 1936 00:00:00 +0530 Wed, 18 Jan 2017 16:42:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189721 An association incorporated under section 26 of the Indian Companies Act remained assessable to income-tax because no exemption arose merely from its non-profit character or from the inapplicability of section 48 of the 1922 Act. Receipts by way of commission and registration fees from members, and outsider payments routed through members, were treated as outside taxable income on the footing that they were not taxable as business income or under any other head considered. The association was not a charitable institution under section 4(3)(ii) because its objects served trade facilities and member interests rather than general public utility. Voluntary charity expenditure did not create a separate tax exemption. Case-Laws Income Tax Mon, 06 Apr 1936 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189721