https://www.taxtmi.com/caselaws?id=460803 A society registered under the Societies Registration Act, 1860 was held not to fall within the class of persons taxable at the maximum marginal rate under section 167B of the Income-tax Act where members' shares are indeterminate or unknown. The Tribunal applied the statutory exclusion for such registered societies and followed earlier coordinate bench decisions, noting that no contrary higher court ruling was produced. The income was therefore taxable at normal rates, not at the maximum marginal rate, and the assessee succeeded on this issue. en-us Wed, 05 Sep 2018 00:00:00 +0530 Fri, 21 Feb 2025 13:31:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460803 A society registered under the Societies Registration Act, 1860 was held not to fall within the class of persons taxable at the maximum marginal rate under section 167B of the Income-tax Act where members' shares are indeterminate or unknown. The Tribunal applied the statutory exclusion for such registered societies and followed earlier coordinate bench decisions, noting that no contrary higher court ruling was produced. The income was therefore taxable at normal rates, not at the maximum marginal rate, and the assessee succeeded on this issue. Case-Laws Income Tax Wed, 05 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460803