1991 (3) TMI 57

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....It relates to the assessee's wealth-tax assessments for the assessment years 1962-63 to 1970-71. The questions of law referred to this court by the Tribunal are : " 1. Whether, on the facts and in the circumstances of the case, the assessee, in the context of the Wealth-tax Act, 1957, can be termed as a 'body of individuals' or as an association of persons ? 2. If it can be termed as a 'body....

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....ved herein required reconsideration. The Supreme Court, it was pointed out, held in the case of CWT v. Trustees of H. E. H. Nizam's Family (Remainder Wealth) Trust [1977] 108 ITR 555, at page 590, that the trustees of a trust were included in the expression 'individual' as used in section 3 of the Wealth-tax Act. The Supreme Court, in that case, had relied on its earlier decision in the case of Tr....

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....08 ITR 555, was not noticed in our court's aforesaid two decisions. We have gone through the decisions of the Supreme Court in Trustees of Gordhandas Govindram Family Charity Trust v. CWT [1973] 88 ITR 47 and CWT v. Trustees of H. E. H. Nizams' Family (Remainder Wealth) Trust [1977] 108 ITR 555 carefully. Both these cases are of trusts where the legal ownership of the trust funds vested in the ....

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....d and come to the conclusion that the club like the one in the present case is an assessable entity under the Wealth-tax Act. However, as fairly conceded by Shri Jetley himself, the Madras High Court has not followed the Gujarat High Court decision in the case of Orient Club v. WTO [1980] 123 ITR 3959 and the judgments of our court in Orient Club v. CWT [1982] 136 ITR 697 and Willingdon Sports Clu....