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 May 2018 Year 2018 This

Application of mutuality principle - rental income and service ...


Rental Income from Reliance Industries Ltd. Taxable, Not Covered by Mutuality Principle.

May 17, 2018

Case Laws     Income Tax     AT

Application of mutuality principle - rental income and service fee received from its corporate member/payee M/s. Reliance Industries Ltd. - income received from the said payee is taxable than that covered under ‘mutuality’ principle - AT

View Source

 


 

You may also like:

  1. Co-operative Housing Society declared income from maintenance charges under 'Income from other sources' with deficit of Rs. 13,86,671/-. Rental and interest income also...

  2. Rental income earned by assessee should be assessed as income from house property, not business income. AO failed to highlight aspects indicating rental income was...

  3. Assessee’s society is covered by the doctrine of mutuality and this amount was not taxable - income received from the members is exempt and the income received from...

  4. Determination of arm's length price (ALP) for international transactions, focusing on the selection of comparable companies. It excludes companies like Elofic Industries...

  5. Disallowance u/s 43B on account of GST remaining unpaid - Facts relating to the issue need to be determined and verified in the first place, including amongst other...

  6. 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...

  7. Assessee computed rental income from factory premises under both "income from house property" and business income incorrectly. ITAT held rental income should be...

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

  9. 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...

  10. Revision u/s 263 by CIT - rental income which had been shown as “Income from Business & Profession” rather than showing the same as “Income from House Property” - once...

  11. Rental Income - Business Income vs Income from House Property - rental income received from Ms. Rekha Jalan (director) has to be treated as business income and rental...

  12. 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...

  13. 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...

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

  15. Principles of mutuality – “member” includes guests and relatives of the members and members of the affiliated clubs - Once the income is found to be covered by...

 

Quick Updates:Latest Updates