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Income Tax - Highlights / Catch Notes

Home Highlights October 2015 Year 2015 This

Principles of mutuality - the assessee / society is under no ...

Income Tax

October 22, 2015

Principles of mutuality - the assessee / society is under no obligation to return the funds to the contributors / members - concept of mutuality claimed by the assessee was rightly rejected by the Revenue. - AT

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  2. Principle of mutuality - contribution paid or made by the members to the co-operative society was occasioned by transfer of the flat - amount not chargeable to tax - HC

  3. Principle of mutuality - assessee is a cooperative society engaged in the construction of flats - assessee has failed to satisfy the basis of mutuality on various grounds - AT

  4. Demand of service tax from Cooperative Society - principle of mutuality - Consultancy service - no demand - HC

  5. Concept of mutuality - Payment of interest / compensation to the members - The very fact that bylaws of the assessee-society contained the provisions that payment of...

  6. Applicability of the principles of mutuality - once the funds of the society are given for the business purposes of a non-Member and the assessee receives any...

  7. Assessee’s society is covered by the doctrine of mutuality and this amount was not taxable - income received from the members is exempt and the income received from...

  8. Principle of mutuality - 'Transfer fee' received from outgoing member of co-operative society - whether is not taxable on the basis of concept of mutuality? - even...

  9. Principle or the doctrine of mutuality - Tribunal for the earlier years, has held that even if there are non-permanent members, non-life members, temporary or honorary...

  10. 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...

 

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