Mutual benefit society - the transactions with the bank who is ...

Mutual Benefit Society Transactions with Non-Member Banks Excluded from Mutuality Principles Application.

November 23, 2018

Case Laws Income Tax AT

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.

View Source

← Previous Next →

Mutual benefit society - the transactions with the bank who is ...

Mutual Benefit Society Transactions with Non-Member Banks Excluded from Mutuality Principles Application.

November 23, 2018

Case Laws Income Tax AT

You may also like:

Deduction u/s 80P(2)(a)(i) was denied by the Assessing Officer on grounds that the assessee society cannot be termed a mutual concern and principles of mutuality cannot...

Entitled for benefit of mutuality - Co-operative society - There is no deference between the transaction of members and nominal members and only when the transactions...

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 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...

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...

Charitable purpose – whole idea of this mutual society is that the particular members comprising it should be benefited out of their own contribution - assessee society...

Exemption u/s 11 - seeking benefit on the ground of mutuality in case of denial of benefit of section 11 by invoking section 13 - the assessee has clearly gave the...

Levy of GST - Business or not - Supply or not - common law Principle of Mutuality - Co-operative Housing Society - contribution charges collected by the Appellant from...

Concept of Mutuality - Transaction between members - Interest from FDRs in bank, dividend income is not taxable based on concept of Mutuality

Interest earned on Fixed Deposits with bank - the transactions with the bank who is not even a member of the society cannot be considered as a transaction for which...

Deduction u/s 80P(2)(a)(i) - assessee is a co-operative credit society having “A” class Members as well as “B” class Members as its society’s Members - mutuality -...

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...

Benefit of exemption u/s 194A(3)(iii)(a) on interest by the CO-OPERATIVE BANK to the Primary Agricultural Credit Societies - in the case of deposits made by the...

Addition on account of long term capital gain - AO has not brought on record any material which establish non-genuineness of the members of the society - all the members...

Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that...

Quick Updates: