Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (3) TMI 614 - AT - Income TaxInterest from bank – Principle of Mutuality - Held that:- The decision in Bangalore Club v/s CIT, [2013 (1) TMI 343 - SUPREME COURT] followed - the amount of interest earned by the club from the bank will not fall within the ambit of “principles of mutuality” and will be exigible to the tax in the hands of the club - thus, there is no merit in the grounds of the assessee – Decided against Assessee.
|