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PETITIONER: COMMISSIONER OF INCOME-TAXBOMBAY CITY
Vs.
RESPONDENT: ROYAL WESTERN INDIA TURF CLUB LTD.
DATE OF JUDGMENT: 26/10/1953
BENCH: DAS, SUDHI RANJAN BENCH: DAS, SUDHI RANJAN SASTRI, M. PATANJALI (CJ) BOSE, VIVIAN HASAN, GHULAM BHAGWATI, NATWARLAL H.
CITATION: 1954 AIR 85 1954 SCR 289 CITATOR INFO : D 1961 SC1144 (5) E 1965 SC 96 (10,11,15)
ACT: Income-tax Act (XI of 1922), s. 10(1), s. 10(6)-Race course company-Receipts from members-Whether receipts from business-Assessability-Applicability of rule in Styles’ case-Difference between mutual insurance societies and clubs and race course companies-"Trade association" meaning of. I/B( )2SCI-5 290
HEADNOTE: The assessee, the Royal Western India Turf Club Ltd. was formed inter alia for the purpose of carrying on the business of a race course company in all its branches and to establish clubs, hotels and other convenience in connection with the property of the company. It had two classes of members, club members, whose number was limited to 350 and stand members who were elected by ballot. Every member Paid an entries fee and an annual subscription. The liability of the members was limited by guarantee and if there was any surplus on winding up, it was to be paid to the members in equal shares. An admission fee was levied from the members for admission to the Mem...