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2009 (4) TMI 3 - HC - Income TaxTaxability of surplus (excess of income over expenditure) which arose on account of advertisement contributions received from the holding company – Tribunal noted that principle of mutuality was not applicable on ground that apart from contributions from various franchisees, amount had also been received from companies, who were neither franchisees nor beneficiaries – Tribunal rightly held that the principles of mutuality being not applicable, surplus was required to be taxed
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