Principles of mutuality - the assessee / society is under no ...

Case Laws Income Tax

October 22, 2015

Principles of mutuality - the assessee / society is under no obligation to return the funds to the contributors / members - concept of mutuality claimed by the assessee was rightly rejected by the Revenue. - AT

View Source

← Previous Next →

Principles of mutuality - the assessee / society is under no ...

Case Laws Income Tax

October 22, 2015

You may also like:

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...

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

Concept of mutuality - Payment of interest / compensation to the members - The very fact that bylaws of the assessee-society contained the provisions that payment of...

Principle of mutuality - assessee is a cooperative society engaged in the construction of flats - assessee has failed to satisfy the basis of mutuality on various grounds - AT

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...

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...

Principle of mutuality - Co-operative Society - Any income generated from facilities, amenities, privileges provided to the members in accordance with the bye-laws and...

Penalty u/s 271(1)(c) - accrual of income for assessee society - In assessee`s appeal assessing officer treated contribution towards welfare Fund and Hospital Fund as...

Mutual benefit society - the transactions with the bank who is not even a member of the society cannot be considered as a transaction for which principles of mutuality will apply.

Appellant is a juridical person or not - Appellant can be treated as a “trust” or not - service provided to contributories or not - The High Court found that the...

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...

Deduction U/s 80P - principles of mutuality - identity between contributor and participant - AO directed to verifying as to the rights, roles , entitlements , duties and...

Deduction u/s. 80(P)(2)(a)(i) - Due date for filing the return of income u/s 139(1) - The assessee cannot be denied deduction under Section 80P(2)(a)(i) of the Act if...

Registration u/s 80G(5)(vi) - charitable activities and utilization of funds - deduction from total income on donations to be made available to donors based on such...

Deduction u/s 80P(2) on interest income - To invest the deposits accepted from the members or the surplus funds available with it, is part of the banking/credit business...

Quick Updates: