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2009 (9) TMI 63 - DELHI HIGH COURTPrinciple of Mutuality – income received from non members - interest received by the assessee on FDRs/deposits – held that - the assessee is incorporated as a society and the main objective is to improve the purpose of public enterprises. The membership of the society is open to public sector enterprises of Central/State Governments. It is, thus, performed for the benefit of its members, which are public sector enterprises. It is not indulging in any “commercial activities” in traditional sense, but is catering to the needs of its members - Of course, for using convention centre as well as other parts of the building, members pay some charges which becomes additional source of income. That by itself cannot be treated as commercial activity of the assessee – answered in favor of assessee – appeal dismissed with cost.
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