https://www.taxtmi.com/caselaws?id=794242 Section 167B of the Income-tax Act did not apply to a society registered under the Karnataka Societies Registration Act, 1960, because the provision targets associations of persons or bodies of individuals with indeterminate or unknown member shares and expressly excludes a society registered under the Societies Registration Act, 1860, or a corresponding law. As the assessee was a registered society, its income was not taxable at the maximum marginal rate but at the normal applicable slab rates. The note also refers to prior acceptance of assessment at normal rates and a coordinate bench view supporting the same position. en-us Mon, 29 Jun 2026 00:00:00 +0530 Thu, 02 Jul 2026 08:07:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794242 Section 167B of the Income-tax Act did not apply to a society registered under the Karnataka Societies Registration Act, 1960, because the provision targets associations of persons or bodies of individuals with indeterminate or unknown member shares and expressly excludes a society registered under the Societies Registration Act, 1860, or a corresponding law. As the assessee was a registered society, its income was not taxable at the maximum marginal rate but at the normal applicable slab rates. The note also refers to prior acceptance of assessment at normal rates and a coordinate bench view supporting the same position. Case-Laws Income Tax Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794242