Once the assessee is governed by the principle of mutuality, ...

Mutuality Applies to Clubs with Different Member Classes, Including Non-Voting Members; Principle Remains Unaffected.

October 4, 2019

Case Laws     Income Tax     AT

Once the assessee is governed by the principle of mutuality, even if there are difference class of members, some of whom are not entitled to vote, the club would not be cease to be governed by principle of mutuality.

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