Doctrine of mutuality - assessee club had made investments in ...

Case Laws Income Tax

January 2, 2017

Doctrine of mutuality - assessee club had made investments in the mutual fund it was not an investment with the member but with an outsider or a non-member, therefore, the principle of mutuality would not apply. - HC

View Source

← Previous Next →

Doctrine of mutuality - assessee club had made investments in ...

Case Laws Income Tax

January 2, 2017

You may also like:

Claim of interest expenditure - Nexus between investments and borrowed funds - A clear and direct nexus has to be established between the loan funds and the investments...

Interest incurred claimed as a deduction u/s. 57(iii) out of interest earned from mutual funds - In our opinion, unless funds are borrowed for making deposit to earn...

The case deals with the applicability of Section 54EC of the Income Tax Act, which provides exemption from capital gains tax if the gains are invested in specified bonds...

Deduction of interest expenditure incurred on borrowed funds u/s 57 - Interest incurred on borrowed funds utilized for making investment in shares in company of...

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...

Disallowance u/s.14A - investment in shares - Assessee had aggregate interest-free funds by way of share capital and reserves which are more than the investment in...

Allowability of interest expense - In absence of establishing the necessary nexus being between the borrowings and the investments in the mutual funds, it can safely be...

Source of funds for investment made in mutual funds - when the partnership firm and its partners are seen holistically and in a combined manner with costs towards...

Unexplained investment u/s 69 - wire transfer from NRE account - assessee is a non-resident - transfer from the account of the assessee’s son, who is also a resident of...

The definition of "Specified Mutual Fund" u/s 50AA is proposed to be amended to provide clarity regarding the proportion of investment in debt and money market...

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...

Tax residency certificate and Global Business License-I held by assessee investment fund incorporated in Mauritius as subsidiary of another Mauritian company....

Unexplained money u/s 69A or investment u/s 69 - Once an AO finds that an investment has been made, he has to examine the Assessee's explanation as to the source of that...

Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

Cancellation of registration u/s 12AB(4) denied - trust's investments in mutual funds from accumulations and corpus donations, not borrowed funds - trust deed clause...

Quick Updates: