Supreme Court · 2001 INSC 130 · Decided 2 March 2001
Thestockexchange,ahmedabad v. ASSTT. Commissioner of Income Tax, Ahmedabad
- Court
- Supreme Court of India
- Citation
- 2001 INSC 130 · [2001] 2 S.C.R. 255
- Case number
- CIVIL APPEAL No. 1727/1998
- Decided
- 2 March 2001
- Bench
- S.P. BHARUCHA, N. SANTOSH HEGDE, Y.K. SABHARWAL (3-judge bench)
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 281B, 226(3)
Headnote
B Stock Exchange Rules, 1957 (Ahmedabad)-Rules 5, 6, 7, 9, 11, 15, 16, 50, 51, 53, 54, Appendix C: Stock Exchange-Membership-Nature of-Held, right of membership is c merely a personal privilege granted to a member-Membership non-transfer- able and incapable of alienation by the member or his legal limited extent as provided in rules on fulfilment of conditions provided therein-Death or default of a member-Consequence of-Held, the member's right of nomination ceases and it vests in the Exchange absolutely free of all rights, claims or interests of such member or any person claiming D through
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