Principle of Mutuality

  • Income Tax

Fixed Deposit Interest income of Clubs taxable, principle of mutuality not apply – Supreme Court

Interest income earned on fixed deposits of Clubs are taxable under Section 2(24) of the Income Tax Act and principle…

9 months ago
  • Service Tax

Clubs or associations not liable to service tax on the principle of mutuality

Clubs or associations incorporated prior to 1.7.2012 not liable to service tax on the principle of mutuality ABCAUS Case Law…

4 years ago
  • Income Tax

Doctrine of mutuality was vitiated by absence of right to participate in surplus. Supreme Court

Doctrine of mutuality was vitiated by absence of right to participate in surplus. Supreme Court explains three basic tests to…

4 years ago
  • Income Tax

Supreme Court explains the doctrine of mutuality with respect of non-occupancy charges etc. received by cooperative societies from members

Supreme Court explains the doctrine of mutuality. Receipts of non-occupancy charges, transfer charges, common amenity fund charges received by cooperative…

6 years ago
  • Income Tax

Principle of Mutuality-Revision u/s 263 was bad When assessee claimed exemption on principle of mutuality in the return and AO also made detailed inquiries

When the assessee claimed exemption on the principle of mutuality in the return of income and the AO also made…

8 years ago