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TMI Blog2010 (11) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... of mutuality on the ground that percentage had to be worked out on facts. Tthe matter was remanded to the Assessing Officer to pass a fresh order of assessment after considering the plea of mutuality raised by the assessee. - Held that: - assessment has been made by the Assessing Officer in pursuance of earlier order of the Tribunal. Thus, the said order having attained finality, there is no reas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claring loss but the Assessing Officer made addition and assessed the income accordingly. On appeal, the CIT(A) directed that 50% of the income should be treated to be exempt on the principle of mutuality. On appeal of the revenue, the Tribunal set aside the direction to treat 50% income to be exempt on the principle of mutuality on the ground that percentage had to be worked out on facts. Tthe ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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