Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (2) TMI 360 - ITAT HYDERABADInterest received from bank deposits/balances - mutuality claim on interest on investments made in nationalised banks - whether is covered by ‘Principles of mutuality’ or not? - assessee is a housing co-operative society and has claimed certain incomes as exempt on ‘Principles of mutuality - HELD THAT:- As decided in own case [2015 (9) TMI 543 - ITAT HYDERABAD] we therefore adopt judicial consistency and partly confirm both the lower authorities' action disallowing the assessee's mutuality claim on interest on investments made in nationalised banks. The other issue of mutuality relief pertaining to transfer fee stands accepted in view of the foregoing detailed reasoning adopted mutatis mutandis herein.
|