If Income of Any Member is Higher than Basic Exemption Limit then Income of AOP Chargeable at MMR

Air Force Navy Farm Owners Welfare Association Vs ITO (ITAT Delhi) The issue under consideration is whether AOP is liable to tax at MMR if income of its members during relevant year exceeded basic exemption limit? ITAT states that the provision of section 167B of the Act and, thereafter, proceeded to hold that, in the case of the assessee provision of section 167B (2) are applicable. The section 167B(2) prescribe that in case of any Association of Person (not being a case falling under subsection 1 of 167B ), if total income of the any member of the Association of Person (excluding the share f...