TaxTMI 
TaxTMI 
2016 (11) TMI 1547
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...., Eluru, West Godavari Dist." The assessee's association was registered under Societies Registration Act on 17.2.1947 with the following objects: 1. Protecting the business interests of Jewellers and Bullion Merchants in Eluru and providing their business amenities. 2. Propagation of co-operation and unity among members and exploiting all the possibilities for the co-operation among members and for the benefit of the association. 3. Propagation of business unanimity among traders and strengthening the association. 4. Providing arbitration settlements in business among members or those connected to members thereby avoiding losses in a litigation free environment. 5. Dissuading members from any inv....
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....ce) the collections from which are to be used for the benefit of the association. 12. Allowing the association properties to be used by others on hire basis and utilize the collections for the benefit and improvement of the association activities. 3. The assessee has filed an application for registration u/s 12AA of the Income Tax Act, 1961 (hereinafter called as 'the Act') dated 26.12.1998 before the CIT, Visakhapatnam on 23.8.1999 and the same was rejected by the Commissioner dated 28.2.2000. Against the order passed by the Commissioner, the assessee has preferred an appeal before the ITAT, Visakhapatnam and submitted that assessee is carrying the charitable activities but the CIT without considering the same rejected ....
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....r of Income Tax Vs. Madras Jewellers & Diamond Merchants Association (1981) 129 ITR 0214 3. Commissioner of Income Tax Vs. Banaras Brass Merchant & Manufacturers Association (2000) 241 ITR 0070 4. Income Tax Officer Vs. Indian Leather Products Association (2016) 156 ITD 0393 (Kolkata) 5. Commissioner of Income Tax Vs. Federation of Bombay Cloth Dealers Association (1979) 7 TTJ 0056 6. PHD Chamber of Commerce & Industry Vs. Director of Income Tax Exemptions (2014) 265 ITR 0318 (Delhi) 7. Commissioner of Income Tax Vs. A.P. Bankers & Pawnbrokers Association (1988) 170 ITR 0476 8. On the other hand, the Ld. D.R. has submitted that the assessee is existed only for the benefit of members of the ass....
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....n this case, assessee has not done anything to the poor people who are in need, who are suffering with ill health, etc., etc. The Commissioner in his order has observed that the society was formed for the welfare of the gold and bullion merchants of Eluru by the members for the benefit of the members. Such society cannot be considered for the purpose of charity. We find that the Ld. Commissioner correctly held that assessee cannot be considered as a charitable organization. A society is formed for the benefit of themselves, it can only be said that it is a mutual benefit to each other. It cannot be said that people started an association for the benefit of themselves is a charity. The concept of charity means doing something to others wh....