Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

Applicability of principle of mutuality – The surplus-excess of ...

Case Laws     Income Tax

December 9, 2013

Applicability of principle of mutuality – The surplus-excess of receipts over the expenditure as a result of mutual arrangement, could not be said to be 'income' for the purpose of the Act - AT

View Source

 


 

You may also like:

  1. Principle or the doctrine of mutuality - Tribunal for the earlier years, has held that even if there are non-permanent members, non-life members, temporary or honorary...

  2. Tribunal rightly applied principle of mutuality in assessee company's case, following Sports Club of Gujarat and Secunderabad Club judgments. Assessee formed to treat...

  3. Assessment of trust - surplus distributed among the members - The share of every beneficiary is quantified. - the assessee trusts and the SHGs are inter-related and they...

  4. Principles of natural justice - decision was not taken by same members of AAR who have heard the case - Taxability - club and association services - principle of...

  5. The assessee argued that the case was selected for limited scrutiny, limiting it to verifying deductions u/s 57. However, the interconnected nature of deductions and the...

  6. Interest earned on deposit - principle of mutuality - The interest earned on such deposit has a clear and direct nexus to the expenditure incurred in the form of...

  7. Demand of service tax from Cooperative Society - principle of mutuality - Consultancy service - no demand - HC

  8. Assessee followed joint venture model for sharing revenue with collaborators as per franchise agreement. Assessee recorded all revenues, incurred expenditure, and shared...

  9. Exemption u/s 11 - applicability of the principle of mutuality - holding of exhibitions and organising of seminars - As per the assessee, the income from members is...

  10. Applicability of the principles of mutuality - once the funds of the society are given for the business purposes of a non-Member and the assessee receives any...

  11. Doctrine of mutuality - satisfaction of three tests - Fees for technical services - assessee is an association (Verein), established in Switzerland, with its members...

  12. Nature/Character of receipt - subsidy receipt - revenue or capital receipt - Applicability of purpose test - section 2(24)(xviii) would be attracted, in principle, but...

  13. Principle of mutuality - 'Transfer fee' received from outgoing member of co-operative society - whether is not taxable on the basis of concept of mutuality? - even...

  14. Applicability of provisions of Section 40A(3) in respect of unaccounted business expenses incurred in cash - Admittedly, the seized document contains unaccounted income...

  15. Deduction of unaccounted expenses from Unaccounted income - Applicability of provisions of Section 40A(3) - Admittedly, the seized document contains unaccounted income...

 

Quick Updates:Latest Updates