SC Refers To Winston Churchill's 'Unpaid Debt' To Bangalore Club In Wealth Tax Judgment
4 years, 3 months ago

SC Refers To Winston Churchill's 'Unpaid Debt' To Bangalore Club In Wealth Tax Judgment

Live Law  

The Supreme Court in its judgment delivered on Tuesday shared an interesting information about the connection between Bangalore Club and former Prime Minister of Great Britain, Winston Churchill. In the judgment delivered today, the Court held that 'Bangalore Club' is not liable to pay Wealth tax under the Wealth Tax Act. In 2013, in Bangalore Club v. CIT 5 SCC 509, the court had held that, for income tax purposes, the Bangalore Club is treated as an association of persons. We cannot accede to the argument that being taxed as an association of persons under the Income Tax Act, the Bangalore Club must be regarded to be an 'association of persons' for the purpose of a tax evasion provision in the Wealth Tax Act as opposed to a charging provision in the Income Tax Act, the bench said while allowing the appeal.

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Supreme Court Weekly Round Up
4 years, 3 months ago

Supreme Court Weekly Round Up

Live Law  

Top Stories This Week:1. SC Allows NLSIU To Conduct NLAT Tomorrow, Restrains From Declaring Results And Making Admissions A Supreme Court Bench headed by Justice Ashok Bhushan has allowed the National Law School of India to conduct the Admission Test-NLAT2020 as per the scheduled on September 12. "Highest Level Expert Committee Convening Meetings & Will Take Holistic Decision In Two …

Bangalore Club Not Liable To Pay Wealth Tax, Holds Supreme Court [Read Judgment]
4 years, 3 months ago

Bangalore Club Not Liable To Pay Wealth Tax, Holds Supreme Court [Read Judgment]

Live Law  

The Supreme Court has held that 'Bangalore Club', one of the oldest club in Bangalore, is not liable to pay Wealth tax under the Wealth Tax Act. In this case, the Income Tax Appellate Tribunal, setting aside the order of assessment by the revenue authority, had held that Section 21AA of the Wealth Tax Act would have no application to …

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