Rules governing the club. The AR's
reliance on the concept of mutuality is somewhat misplaced in-as-
much as the preponderant judicial view ... earned by the assessee is not covered by the
concept of mutuality. Therefore the rental income of
Rs.55,87,395/- is assessed as income
Rules governing the club. The AR's
reliance on the concept of mutuality is somewhat misplaced in-as-
much as the preponderant judicial view ... earned by the assessee is not covered by the
concept of mutuality. Therefore the rental income of
Rs.55,87,395/- is assessed as income
Rules governing the club. The AR's
reliance on the concept of mutuality is somewhat misplaced in-as-
much as the preponderant judicial view ... earned by the assessee is not covered by the
concept of mutuality. Therefore the rental income of
Rs.55,87,395/- is assessed as income
assessee has submitted
as under: -
"Contribution from members exempt on mutuality concept:
During the year under consideration, the appellant had received
contributions from ... society.
Therefore, the concept of mutuality is applicable and he argued that since
the issue involved is involving mutuality concept, therefore it does not fall
conditions must exist
before an activity could be brought under the concept of mutuality:
(i) that no person can earn from him;
(ii) that there ... such the AOP body by the Society is not covered by
concept of mutuality at all."
26. These are the findings of fact which
income tax, based on the doctrine of mutuality. After appreciating the
general understanding of the doctrine of mutuality in the context of the
provision ... turn
result in earning interest cannot be held to satisfy the mutuality
concept.
Submissions:
6. In the above backdrop of decisions of this Court
nature of trading receipts and the same stood covered by the
concept of mutuality.
2.4 The first appeal filed by the appellant/revenue was dismissed ... strongly contended that the present case clearly
stands governed by the concept of mutuality.
6. Thence, fulcrum of the present dispute being on the concept
avail extension of the fixed term of this lease on
their mutual concept and desire only."
The petitioner ought to have approached the Civil
conditions must exist
before an activity could be brought under the concept of mutuality;
that no person can earn from him;
that there ... such the
AOP body by the society is not covered by concept of mutuality at all."
27. These are the findings of fact which
Delhi on 20.06.1956. The society works on the concept of mutuality and is
engaged in the activity of granting thrift and credit facilities ... Stress was laid on the fact that the concept of mutuality in the case of
Co-operative Societies has been recognised
