TaxTMI 
TaxTMI 
2022 (8) TMI 241
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....e Tax Act, 1961. Under the facts & circumstances of the matter she ought not to have passed the said order u/s 263 of I.T. Act, 1961. 2. The Appellant craves leave to add, amend or alter the above grounds of appeal at or before the time of hearing. Additional Grounds 1. Without prejudice to the earlier grounds, it is submitted that in the facts and the circumstances of the case, and in law, even on merits, no such directions were called for. 2. The Appellant craves leave to add, alter, delete or modify all or any the above ground at the time of hearing. 2. The brief facts of the case are that the assessee is an AOP and registered union under Trade Union Act, 1926. The assessee being a Trade Union of fi....
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....D card fees, life membership fees, registration fees, etc. are to be exempted u/s 10(24) of I.T. Act, 1961 being a Trade Union. The assessee stated that such receipts were categorical under the head 'Income from other sources' as it was not carrying out any business for profit. To support its stand, the assessee had also quoted the order of Ld. CIT(Appeals)-III, GST & CX, Mumbai, which has held the assessee to be a Trade Union and not a Business Entity. 4. The contention of the assessee did not find favour and the Ld. PCIT held that from the gross receipts of Rs. 1,44,08,286/- received by the assessee under 20 heads mentioned below except for the last two heads i.e. Interest Income from saving account and Fixed Deposit, the other receipt....
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....for the said receipts. 6. Aggrieved by the said order passed by the Ld. PCIT u/s 263, the assessee is in appeal before us. The Ld. AR representing the assessee contended that the Ld. PCIT has not enquired in detail about the nature of activity of the assessee and stated that the Ld. PCIT did not provide sufficient justification for deciding the receipts received by the assessee as business income. The Ld. AR relied on the decision of Hon'ble Bombay High Court in the case of Mario Raposo Vs. H. M. Bhandarkar and Ors (Writ Petition No. 3425 of 1993). The Ld. DR on the other hand contended that the assessee is not entitled to claim exemption u/s 10(24) and relied on the decision of the Ld. PCIT. 7. We have heard the rival submissions and....
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....mbers in respect of matters arising out of/or incidental to their employment. ix) To render aid to its members during any lockout strike, provided the same is done with the sanction of the Association. x) To establish and maintain harmony and unity of action among the members of the Association. xi) To build-up and administer funds for the provisions of legal aid, un-employment, disablement, retirement and death benefits, provident funds and other benefits whichever may be deemed necessary from time to time. xii) To secure representation of its members on delegations, commissions, committees, etc., set up by the Central or State Governments or Film Industry or other bodies where representation of non-offi....
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....stles against the Industrial Jurisprudence and the philosophy behind the Trade Unions Act. The purpose of forming a Union is for the welfare of its members. It provides collective bargaining power to them as against the employer and also infuses in them the sense of security which is a natural concomitant of unity. A union undoubtedly needs money for its activities. The Act provides the mechanism for generating funds and via Section 15 and 16 controls the expenditure thereof. "Profit making can never be an objective of the Union. "Purchase of shares" is clearly an attempt towards profit making and carries with it an odour of "speculation". 10. From the above observations, it is evident that the assessee is not a business entity and does ....