https://www.taxtmi.com/caselaws?id=192470 The Calcutta High Court, in a judgment delivered by Sir George Rankin, KT., CJ., and Justices C.C. Ghose and Buckland, held that the Dibrugarh District Club, Limited, is liable to pay income tax on its profits. The court emphasized the distinction between club membership and share ownership, determining that the company must pay income tax on its full profit amount regardless of its proposed use of profits. The judgment highlighted the company's profit-making activities from club members and shareholders, underscoring the company's legal obligation to pay income tax. The court also directed the assessee to bear the costs of the reference. en-us Thu, 22 Dec 1927 00:00:00 +0530 Fri, 02 Jun 2017 12:03:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192470 The Calcutta High Court, in a judgment delivered by Sir George Rankin, KT., CJ., and Justices C.C. Ghose and Buckland, held that the Dibrugarh District Club, Limited, is liable to pay income tax on its profits. The court emphasized the distinction between club membership and share ownership, determining that the company must pay income tax on its full profit amount regardless of its proposed use of profits. The judgment highlighted the company's profit-making activities from club members and shareholders, underscoring the company's legal obligation to pay income tax. The court also directed the assessee to bear the costs of the reference. Case-Laws Income Tax Thu, 22 Dec 1927 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192470