AOP was liable to tax at MMR if income of its members during relevant year exceeded basic exemption limit: ITAT

Income Tax : Where assessee society, registered under Societies Registration Act, 1860, was holding status of AOP, in view of fact that income of its members during relevant year exceeded basic exemption limit, having regard to provisions of section 167B(2), income of assessee was liable to be taxed at maximum marginal rate

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