historic interest.
Then the Assessing Officer noted that the "concept of mutuality" was also
not applicable in the case of the assessee. According ... very fact takes
the assessee out of the ambit of "concept of mutuality" and thus the
leasing out of properties to the outside
tenements were not allotted but were sold to members and, therefore concept of mutuality was never applicable to the impugned transactions.
(c) The assessing officer ... discipline of the rule governing the society and, therefore, the concept of mutuality applies with all its force and no question of levy
Premises Tenancy Act. Tenancy and trespass, are concepts mutually exclusive of one another, just as, say, the concepts of black and white are. Tenancy excludes
conditions must exist before an activity could be brought
under the concept of mutuality;
that no person can earn from him;
that there a profit ... such the AOP body by the society is not covered by
concept of mutuality at all.”
27) These are the findings of fact which have
profit out of himself' which is
the touchstone of mutuality concept. Reliance is placed on the decision of CIT
vs West Godavari District Rice ... invested. Society did not have any business activity
merely working on mutuality concept then how unaccounted money had been
generated by the assessee society
section 80P and the assessee has not following the
principal of mutuality concept and therefore, the deduction claimed u/s.
80P(2) was disallowed. Also
There are
ample precedents of our country also adopting the concept of joint & mutual
wills. 'Theobald' on Wills 19th Edition (Sweet ... Duty, Ahmedabad , (1986) 1 SCC 701, had elaborately considered the concept
of Joint & mutual Will. The above case was also a case
assessee has relied upon the following judgments/orders:
"3. Principles of Mutuality
( a) Surat District Cotton Dealers Association ... Chelmsford Club v. CIT 243 ITR 89 (SC).
4. Transfer Fees - Mutuality Concept
(a) Walkeshwar Triveni
behalf of the defendant that the
easement and ownership right are mutually exclusive concepts and,
therefore, are inconsistent with one another and such inconsistent
right ... High Court has indeed decided that easementary and
ownership rights are mutually exclusive concepts and are
contradictory and inconsistent with one another. The easementary
right
assistants and members are taxable as
income from business and the concept of mutuality
would not apply.
4) Mantola Cooperative Thrift & Credit Society ... case of Bangalore Club (supra), the Supreme Court
observed that the concept of mutuality has been extended
to defined groups of people who contribute
