https://www.taxtmi.com/caselaws?id=191022 A company registered under Section 26 of the Indian Companies Act, 1913 was treated as a company for income-tax purposes because it retained corporate character and fell within the wide statutory definition in the Income-tax Act, 1922; it was therefore assessable as such. However, exemption under Section 9(1) for the occupied portion of premises was denied because that relief applies only where the property is used for a real, systematic business, profession or vocation whose profits are assessable as such. The assessee's receipts from managing other bodies and registering trade marks were incidental and insubstantial, and were treated as income from other sources, not vocational profits. en-us Thu, 20 Feb 1947 00:00:00 +0530 Fri, 17 Mar 2017 17:21:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191022 A company registered under Section 26 of the Indian Companies Act, 1913 was treated as a company for income-tax purposes because it retained corporate character and fell within the wide statutory definition in the Income-tax Act, 1922; it was therefore assessable as such. However, exemption under Section 9(1) for the occupied portion of premises was denied because that relief applies only where the property is used for a real, systematic business, profession or vocation whose profits are assessable as such. The assessee's receipts from managing other bodies and registering trade marks were incidental and insubstantial, and were treated as income from other sources, not vocational profits. Case-Laws Income Tax Thu, 20 Feb 1947 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191022