COMMISSIONER OF WEALTH TAX Vs. GEORGE CLUB

JUDGEMENT

(1.) The only question which the Revenue wants us to direct the Tribunal to refer under section 256(2) of the Income-tax Act, 1961 ("the Act") is :

(2.) The assessment year is 1981-82. The assessee is George Club. Section 21AA of the Wealth-tax Act, 1957 ("the Act"), was introduced by the Finance Act, 1981, with effect from 1/04/1981. At the relevant time, sub-section (1) of section 21AA read as follows :

(3.) The club is registered under the Societies Registration Act, 1860.