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The High Court of Allahabad dismissed the Revenue's application to refer questions under section 256(2) of the Income-tax Act regarding the exemption of the assessee association's income on the ground of mutuality. The Tribunal found complete identity between contributors and participators, applying the principle of mutuality. The Court ruled that the income falls under section 28 of the Income-tax Act, but since this aspect was not presented before any authorities, the application was dismissed.
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