Supreme Court · 1997 INSC 297 · Decided 20 March 1997
Delhi Stock Exchange Association LTD. v. Commissioner of Income Tax, New Delhi
- Court
- Supreme Court of India
- Citation
- 1997 INSC 297 · [1997] 3 S.C.R. 130
- Case number
- CIVIL APPEAL No. 3432/1983
- Decided
- 20 March 1997
- Bench
- S.C. AGRAWAL, G.B. PATTANAIK (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 11
Headnote
EXCHANGE ASSOCIATION LTD. v. COMMISSIONER OF INCOME TAX, NEW DELHI MARCH, 20, 1997 B (S.C. AGRAWAL AND G.B. PATTANAIK, JJ.) Income Tax Act, 1961 : S.11 read with s.2( 15)-lncome from properties held under trust or C charitable purpose-Exemption from payment of income ta.>.~Stock Ex­ way of dividends amongst its shareholders, it was not elltitled to the exemption-17iere is no provision in Securities (Contract Regulation) Act, 1958, imposillg such an obliga- D lion-Securities Contract (Regulation) Act, 195~S.2(j). The assessee-Delhi Stock Exchange Association Ltd., a company
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