INDIAN JUTE MILLS ASSOCIATION Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The Tribunal has referred the following question of law under Section 256(1) of the Income-tax Act, 1961, to this court :

(2.) In this proceeding, the assessment years involved are 1977-78, 1978-79 and 1979-80 and 1974-75 for which the relevant periods of account are calender years 1976, 1977, 1978 and 1973 respectively. The assessee is an association registered under the Trade Unions Act, 1926. The question of law raised in this reference also came up for consideration before the Tribunal in I. T. A. Nos. 5809 and 5810/(Cal) of 1965-66 for the assessment years 1960-61 and 1961-62. The assessee did not come to this court by way of reference against that decision of the Tribunal. The assessee, however, in the instant case, decided to challenge the order of the Tribunal on the aforesaid question of law.

(3.) The objects set out in Clause (3) of the Rules and Regulations of the Indian Jute Mills Association are, inter alia, as follows :