ASSAM COOPERATIVE APEX MARKETING SOCIETY LIMITED ASSAM Vs. ADDITIONAL COMMISSIONER OF INCOME TAX ASSAM

JUDGEMENT

(1.) - This appeal is preferred against the judgment of the Gauhati High Court answering the question referred to it against the assessee. The question referred is :

(2.) The assessment year concerned herein is 1962-63, the first assessment year under the Income-tax Act, 1961. During the accounting year relevant to the said assessment year, the appellant. The Assam Co-operative Apex Marketing Society Ltd., Assam was appointed as the procuring agent for paddy by the Government under a scheme evolved by the Government of Assam and contained in its proceeding dated 23rd November, 1962. The assessee is a society' registered under the Assam Co-operative Societies Act, 1949. The objects of the Society are:

(3.) There are various categories of Societies in the State of Assam. We are concerned with two such categories i.e., Village Service Co-operative Societies and Primary Marketing Societies. The assessee, of course, is at the apex. The Village Service Co-operative Societies are at the base of the pyramid. Their membership consists of agriculturists. These Village Societies are the members of the Primary Marketing Societies. The Primary Marketing Societies in turn are members of the assessee society. It does not appear that any agriculturist as such is member of the assessee society.