Exemption from payment of income tax on interest earned - the ...

Income Tax

June 27, 2015

Exemption from payment of income tax on interest earned - the concept of mutuality shall not be extended to the interest incomes earned by a mutual association or a society. - AT

View Source

← Previous Next →

Exemption from payment of income tax on interest earned - the ...

Income Tax

June 27, 2015

You may also like:

Exemption from payment of income tax on interest earned - fixed deposits kept with certain banks which were corporate members of the assessee club - principle of...

Doctrine of mutuality - Exemption from taxability - The doctrine of mutuality bestows a special status to qualify for exemption from tax liability. It is a settled...

Interest earned on deposit - principle of mutuality - The interest earned on such deposit has a clear and direct nexus to the expenditure incurred in the form of...

Club or Association Service - Admission Fee, Membership Fee, Establishment Expenses, collected by the appellant from its members - amount retained for earning ‘carbon...

Undervaluation of goods - Mutuality of interest - interconnected undertaking - Burden of proof - Mere allegation that there was mutuality of interest remained unproved...

Exemption u/s 11 - principle of mutuality - the interest earned by the assessee club on certain fixed deposits kept with certain banks who are also corporate members of...

Exemption on the principle of mutuality claimed - as the individual beneficiaries of the trust cannot be identified, therefore, there is no question of applying the...

The assessee was justified in adjusting the interest earned from the interest payments on term loan and the balance of interest paid was capitalized in the books - AT

Taxability of interest on FD received from bank - concept of mutuality -the income cannot be said to have been derived from any activity based on principle of mutuality - HC

Concept of Mutuality - Transaction between members - Interest from FDRs in bank, dividend income is not taxable based on concept of Mutuality

Quick Updates: