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1 - 7 of 7 (0.40 seconds)Section 11 in The Income Tax Act, 1961 [Entire Act]
Section 12 in The Income Tax Act, 1961 [Entire Act]
Section 12AA in The Income Tax Act, 1961 [Entire Act]
Ananda Marga Pracharaka Sangha vs Commissioner Of Income-Tax on 25 February, 1994
In fact, this view is supported by the judgment of the Hon'ble High Court of Calcutta in the case of Ananda Marga Pracharaka Sangha v. CIT (supra). The following observations of the Hon'ble Court are worthy of notice:
Commissioner Of Income-Tax, Bier vs M/S. Bankipur Club Ltd on 8 May, 1997
In appeal before the CIT(A), the assessee claimed that its income was exempt from tax on the principle of mutuality following the decision of the apex Court in the case of CIT v. Bankipur Club Ltd . The CIT(A) partly upheld the plea of the assessee and set aside the assessment and remanded it to the AO for fresh decision in accordance with law. The AO accordingly made fresh assessment wherein the income derived from the permanent members of the club was held not liable to be taxed on the principle of mutuality. However, the following incomes were held as liable to tax as the same did not fall within the principles of mutuality:
The Income Tax Act, 1961
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