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TMI Blog1976 (1) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome-tax Act, 1922 : " 1. Whether, on the facts and in the circumstances of the case, the objects of the assessee-association were objects of general public utility and accordingly the assessee was entitled to exemption from tax in respect of all its activities under section 4(3)(i) of the Indian Income-tax Act, 1922 ? 2. Whether, on the facts and in the circumstances of the case, income deri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r and exempted from using the word " limited " in its name. The assessee claimed exemption under section 4(3)(i) of the Indian Income-tax Act, 1922, for the assessment year 1961-62 and under the corresponding section 11 of the Income-tax Act, 1961, for the remaining three assessment years. We reframe question No. 1 by adding the words " for the assessment year 1961-62 and the corresponding secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see " was formed with the primary object of development and promotion of motor trade and industry which was essential and an integral part of the general commerce and industry of the country and, as such, the same was of public utility and was exempt from tax. " Having considered the respective submissions made by the learned counsel for the parties including the objects set forth in the memoran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect of any of its activities under section 4(3)(i) of the Indian Income-tax Act, 1922, and the corresponding section 11 of the Income-tax Act, 1961, as claimed in the assessment years concerned. Accordingly, the remaining questions do not call for any answer and we decline to answer them. There will be no order as to costs. DIPAK KUMAR SEN J.--I agree. - - TaxTMI - TMITax - Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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