https://www.taxtmi.com/caselaws?id=7730 An association whose dominant objects were to promote and protect sugar trade and industry, and to foster relations among those connected with that industry, was treated as pursuing an object of general public utility. The prohibition on distribution of income or property to members by way of dividend or bonus, and the presence of incidental powers under the Trade Unions Act, did not change that character or create a private benefit. On that basis, the association's income from sugar export business and interest on deposits fell within the exemption under section 4(3)(i) of the Indian Income-tax Act, 1922, because its property was held under a legal obligation for general public utility objects. en-us Fri, 11 Jul 1969 00:00:00 +0530 Wed, 18 Mar 2009 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7730 An association whose dominant objects were to promote and protect sugar trade and industry, and to foster relations among those connected with that industry, was treated as pursuing an object of general public utility. The prohibition on distribution of income or property to members by way of dividend or bonus, and the presence of incidental powers under the Trade Unions Act, did not change that character or create a private benefit. On that basis, the association's income from sugar export business and interest on deposits fell within the exemption under section 4(3)(i) of the Indian Income-tax Act, 1922, because its property was held under a legal obligation for general public utility objects. Case-Laws Income Tax Fri, 11 Jul 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7730