M/S/Andoorkonam Service Co-Op Bank ... vs The Ito, Wd-2(1), Trivandrum on 7 January, 2020
members alone any income
derived from the activities are exempt under mutuality concept
and the deduction u/s 80P is not required for such income
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1 - 10 of 60 (0.81 seconds)Rajees vs Income-Tax Officer on 8 January, 1996
chit fund company.
8. It was contended that there is a concept of mutuality in subscribing to the chit fund. The nature of chit fund ... presumed that the chit fund concept is based on the concept of mutuality. These principles derive support from the judgment of the Andhra Pradesh High
M/S.Punnol Service Co-Op Bank Ltd, ... vs Assessee on 31 July, 2014
lending money only to its members. Being so,
applying the concept of mutuality, the total income of the assessee
has to be exempt from ... Supreme Court
had an occasion to consider this mutuality concept. Similar issue
came up for consideration of the Hon'ble Supreme Court
M/S Ariyallur Service Co-Op Bank, ... vs Income Tax Officer Ward (3), Tirur on 17 April, 2023
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
M/S.Beypore Service Co-Op Bank, ... vs Assessee on 21 November, 2014
lending money only to its members. Being so, applying the concept of
mutuality, the total income of the assessee has to be exempt from ... Supreme Court had an occasion to consider this
mutuality concept. Similar issue came up for consideration of the
Hon'ble Supreme Court
Chettiamparamba Service Co-Operative ... vs Assessee on 21 November, 2014
lending money only to its members. Being so, applying the concept
of mutuality, the total income of the assessee has to be exempt from ... Supreme Court had an occasion to consider this mutuality concept.
Similar issue came up for consideration of the Hon'ble Supreme Court
M/S. Kunnamangalam Co-Op Rural Bank ... vs Assessee on 25 July, 2014
further submitted that even on applying the concept of
mutuality, the assessee's claim is to be allowed. For this, he relied ... Supreme Court had an occasion to consider
this mutuality concept. Similar issue came up for consideration of the
Hon'ble Supreme Court
Kadakkarappally Service Co-Op Bank ... vs Assessee on 5 December, 2014
lending money only to its members. Being so, applying the concept
of mutuality, the total income of the assessee has to be exempt from ... Supreme Court had an occasion to consider this mutuality concept.
Similar issue came up for consideration of the Hon'ble Supreme Court
The Sulthan Bathery Service Co-Op Bank ... vs The Jcit Range 2, Kozhikode on 14 August, 2024
SulthanBathery Service Co-operative Bank Limited, Wayanad
Page 8 of 12
concept of mutuality. Trading between people associating together in this way
does not give ... attainment
of the main object of the assessee society. The concept of mutuality is primarily
based on the principle that one cannot make profit from
The Sulthan Bathery Service Co-Op Bank ... vs The Jcit Range 2, Kozhikode on 14 August, 2024
SulthanBathery Service Co-operative Bank Limited, Wayanad
Page 8 of 12
concept of mutuality. Trading between people associating together in this way
does not give ... attainment
of the main object of the assessee society. The concept of mutuality is primarily
based on the principle that one cannot make profit from