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2018 (5) TMI 1002 - AT - Income TaxApplication of mutuality principle - rental income and service fee received from its corporate member/payee M/s. Reliance Industries Ltd. - Held that:- The very mutual benefit to the assessee denied itself on the ground that the payee/corporate member concerned; although a member, displayed its advertisement for the purpose of its business. Learned coordinate bench thus concludes that assessee’s identical income received from the said payee is to be assessed as income from house property than that covered under ‘mutuality’ principle. We accept Revenue’s arguments as well as its former substantive ground seeking to revive the impugned addition of rental income. Restore service fee addition received from the very payee - Held that:- We sought to know the exact nature of services provided by the tax payer. It emerges from the CIT(A)’s order in para-5.2 that the service charges in question have been received in respect of the very let out premises. We thus are of the view that the assessee is not entitled for the above mutuality benefit qua instant service fee received as well. The Revenue’s latter substantive ground as well as the impugned appeal is accepted accordingly.
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