Supreme Court and has not considered the mutuality concept of the society. He
submitted that as per section 18 of the KCS Act, even nominal ... business done with
associate members does not violate the mutuality concept. Further the business
done with nominal members is hardly 1.82% of the total business
entertaining mutuality plea. The assessee's
claim is that it fulfils all essential conditions of the mutuality concept. It is contended
that this mutuality ... appeal.
10. We come to the second feature of the mutuality concept as to whether action
of the participators and contributors is in furtherance
section 80P of the Act on
account of alleged violation of concept of mutuality.
4. The relevant facts are that the assessee is primary agricultural ... deprived of participation in
profits, administration, other rights, which breaks the concept of
mutuality.
7.2 The AO further highlighted that the denial of voting rights
section 80P of the Act on
account of alleged violation of concept of mutuality.
4. The relevant facts are that the assessee is primary agricultural ... deprived of participation in
profits, administration, other rights, which breaks the concept of
mutuality.
7.2 The AO further highlighted that the denial of voting rights
interpreting that the conditions of
Mutuality Concept are not satisfied in the case of interest earned from Co-
operative Banks ... interpreting that the conditions of
Mutuality Concept are not satisfied in the case of interest earned from Co-
operative Banks
basis of violation of mutuality concept deduction
claimed is added back to the total income. We are having
A class member and also C class ... society.
We don't have any transaction with non-
members.Mutuality concept is not violated. The same is
held in case of Honorable supreme
basis of violation of mutuality concept deduction
claimed is added back to the total income. We are having
A class member and also C class ... society.
We don't have any transaction with non-
members.Mutuality concept is not violated. The same is
held in case of Honorable supreme
basis of violation of mutuality concept deduction
claimed is added back to the total income. We are having
A class member and also C class ... society.
We don't have any transaction with non-
members.Mutuality concept is not violated. The same is
held in case of Honorable supreme
basis of violation of mutuality concept deduction
claimed is added back to the total income. We are having
A class member and also C class ... society.
We don't have any transaction with non-
members.Mutuality concept is not violated. The same is
held in case of Honorable supreme
submit as follows:
● The Supreme Court has recognised the well-established
concept of mutuality, and that a club/association is a self-serving
institution ... constitutional amendment doing away with the long-established and
well-recognised concept of mutuality i.e., by a constitutional amendment
which invests the Parliament
