CIT v. Bankipur Club Ltd.

226 ITR 97Supreme Court of India1997#831 most cited

What is CIT v. Bankipur Club Ltd. authority for?

The doctrine of mutuality applies only when there is complete identity between the contributors to a common fund and the participants in its surplus. Income received from non-members or distinct classes of members who do not share this identity is not covered by mutuality and is taxable.

125

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2000 to 2026.

Also referred to as

CIT v. Bankipur Club Ltd. · 226 ITR 97 · doctrine of mutuality · mutuality principle · identity of contributors participants · associate members · non-members income · Section 80P · co-operative society tax · clubs taxation · surplus distribution

Also reported as

92 Taxmann 278

Sections most often in play

Section 143(3)Section 142(1)Section 80PSection 80P(2)(a)(i)Section 80P(2)(d)Section 143(2)Section 1961Section 57 of the Income Tax Act
Read the full judgment

Issues it is cited on

doctrine of mutualitysection 59(2)mutuality principlesection 2(n)section 80(p)section 10(20)section 38section 80(p)(2)section 59section 80(p)(2)(d)section 80p(2)(a)section 57

Judgments citing CIT v. Bankipur Club Ltd.

Andhra Pradesh Advocates Welfare Fund, Hyderabad vs. Income Tax Officer, Ward 8(2), Hyderabad

In the result, all the three appeals of the assessee are dismissed

ITA 663/HYD/2023[2017-18]Status: DisposedITAT Hyderabad24 Jul 2024AY 2017-18

Bench: SHRI K.NARASIMHA CHARY (Judicial Member), SHRI MADHUSUDAN SAWDIA (Accountant Member)

For Appellant: Shri P.R. Suresh, C.AFor Respondent: Shri Kumar Pranav, CIT(DR) &
Section 23Section 3

…AP Advocates Welfare Fund, the assessee, filed its return of income declaring an income of Rs. Nil in the on 30/03/2018 claiming Exemption under Mutuality, resting its claim on the decision of the Hon’ble Apex Court in the case of CIT vs. Bankipur Club Ltd.; (226 ITR 97 (SC)). Learned Assessing Officer also recorded that the assessee claimed the Status of Local Authority. The case was selected for scrutiny through “CASS” to examine the “deduction against income from other sources”. Learned Assessing Officer noticed that the assessee received a sum of Rs. 6,63,48,049/- Life membership fee, Nomination fee, Certific…

Andhra Pradesh Advocates Welfare Fund, Hyderabad vs. Income Tax Officer, Ward 8(2), Hyderabad

In the result, all the three appeals of the assessee are dismissed

ITA 662/HYD/2023[2016-17]Status: DisposedITAT Hyderabad24 Jul 2024AY 2016-17

Bench: SHRI K.NARASIMHA CHARY (Judicial Member), SHRI MADHUSUDAN SAWDIA (Accountant Member)

For Appellant: Shri P.R. Suresh, C.AFor Respondent: Shri Kumar Pranav, CIT(DR) &
Section 23Section 3

…AP Advocates Welfare Fund, the assessee, filed its return of income declaring an income of Rs. Nil in the on 30/03/2018 claiming Exemption under Mutuality, resting its claim on the decision of the Hon’ble Apex Court in the case of CIT vs. Bankipur Club Ltd.; (226 ITR 97 (SC)). Learned Assessing Officer also recorded that the assessee claimed the Status of Local Authority. The case was selected for scrutiny through “CASS” to examine the “deduction against income from other sources”. Learned Assessing Officer noticed that the assessee received a sum of Rs. 6,63,48,049/- Life membership fee, Nomination fee, Certific…

Rajpath Club Ltd., Ahmedabad vs. The DCIT, Circle-3(1)(2), Ahmedabad

ITA 2420/AHD/2018[2015-16]Status: DisposedITAT Ahmedabad28 Jun 2024AY 2015-16

Bench: Mrs. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Biren Shah, ARFor Respondent: Ms. Saumya Pandey Jain, Sr DR
Section 250(6)

…learned Assessing Officer on the ground that that income was outside the purview of the principle of mutuality. He ought to have appreciated, inter alia, that the appellant's case was covered by the decisions of the Supreme Court in CIT v. Bankipur Club Ltd. (226 ITR 97) and Chelmsford Club v. CIT (243 ITR 89) and accordingly, the impugned amount was not assessable in the hands of the appellant. 2. Without prejudice to the foregoing Ground No. 1, in law and in the facts and circumstances of the appellant's case, the learned CIT(A) has grossly erred, even while appreciating the merits of the appellant's case put u…

Rajpath Club Ltd., Ahmedabad vs. The Deputy Commissioner of Income Tax, Circle-3(1)(2), Ahmedabad

ITA 274/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad28 Jun 2024AY 2013-14

Bench: Mrs. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Biren Shah, ARFor Respondent: Ms. Saumya Pandey Jain, Sr DR
Section 250(6)

…learned Assessing Officer on the ground that that income was outside the purview of the principle of mutuality. He ought to have appreciated, inter alia, that the appellant's case was covered by the decisions of the Supreme Court in CIT v. Bankipur Club Ltd. (226 ITR 97) and Chelmsford Club v. CIT (243 ITR 89) and accordingly, the impugned amount was not assessable in the hands of the appellant. 2. Without prejudice to the foregoing Ground No. 1, in law and in the facts and circumstances of the appellant's case, the learned CIT(A) has grossly erred, even while appreciating the merits of the appellant's case put u…

Rajpath Club Ltd., Ahmedabad vs. The Asstt. Commissioner of Income Tax, Circel-5, Ahmedabad

ITA 3084/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad28 Jun 2024AY 2012-13

Bench: Mrs. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Biren Shah, ARFor Respondent: Ms. Saumya Pandey Jain, Sr DR
Section 250(6)

…learned Assessing Officer on the ground that that income was outside the purview of the principle of mutuality. He ought to have appreciated, inter alia, that the appellant's case was covered by the decisions of the Supreme Court in CIT v. Bankipur Club Ltd. (226 ITR 97) and Chelmsford Club v. CIT (243 ITR 89) and accordingly, the impugned amount was not assessable in the hands of the appellant. 2. Without prejudice to the foregoing Ground No. 1, in law and in the facts and circumstances of the appellant's case, the learned CIT(A) has grossly erred, even while appreciating the merits of the appellant's case put u…

Rajpath Club Ltd., Ahmedabad vs. The Asstt. Commissioner of Income Tax, Circel-5, Ahmedabad

ITA 3083/AHD/2016[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2024AY 2008-09

Bench: Mrs. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Biren Shah, ARFor Respondent: Ms. Saumya Pandey Jain, Sr DR
Section 250(6)

…learned Assessing Officer on the ground that that income was outside the purview of the principle of mutuality. He ought to have appreciated, inter alia, that the appellant's case was covered by the decisions of the Supreme Court in CIT v. Bankipur Club Ltd. (226 ITR 97) and Chelmsford Club v. CIT (243 ITR 89) and accordingly, the impugned amount was not assessable in the hands of the appellant. 2. Without prejudice to the foregoing Ground No. 1, in law and in the facts and circumstances of the appellant's case, the learned CIT(A) has grossly erred, even while appreciating the merits of the appellant's case put u…

Kanak Pattin Sahakari Sangh Niyamit, Bilagi vs. Income-Tax Officer, Ward-1, Bagalkot

In the result, the appeal by the assessee is dismissed

ITA 790/BANG/2023[2018-19]Status: DisposedITAT Bangalore14 Dec 2023AY 2018-19

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2018-19

For Appellant: Shri V. Sridhar, CAFor Respondent: Shri Subramanaian, S., Jt.CIT(DR)(ITAT), Bengaluru
Section 143(2)Section 18Section 80PSection 80P(2)(a)Section 80P(2)(d)

…is missing which is foundation stone Page 3 of 8 of co-op. societies in the present case and held that society dealing with nominal/associate members is not eligible for deduction u/s. 80P(2)(a)(i). The AO relied on the judgment of CIT v. Bankipur Club Ltd., 226 ITR 97 (SC) and Chelmsford Club v. CIT and 243 ITR 89 (SC). Citizen Co-op. Credit Society Ltd., Civil Appeal No.10245 of 2017 (SLP(C) No.20044 of 2015 dated 8.8.2017) [SC]. The assessee’s reliance in the case of Mavilayi Service Cooperative Bank (Civil Appeal No.7343-7350 of 2019)[SC] was held to be not applicable to assessee’s case on different facts, s…

Assistant Commissioner of Income -Tax, Circle-1(1)(1), Surat, Majura Gate vs. Shree Aradhna Urban Co Op Credit Society Ltd, Varachha Road

In the result, this appeal of revenue is dismissed

ITA 630/SRT/2023[2014-15]Status: DisposedITAT Surat28 Nov 2023AY 2014-15

Bench: Shri Pawan Singh(Hybrid Hearing) A.C.I.T., Shree Aradhna Urban Co Op Credit Circle-1(1)(1), Society Ltd., Vs. Surat. 128-129, Super Diamond Market, Varachha Road, Surat-395006. Pan No. Aaopc 8463 B Appellant/Revenue Respondent/Assessee

Section 144Section 194A(3)(v)Section 254(1)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH (SMC), SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER (Hybrid hearing) A.C.I.T., Shree Aradhna Urban Co Op Credit Circle-1(1)(1), Society Ltd., Vs. Surat. 128-129, Super Diamond Market, Varachha Road, Surat-395006. PAN No. AAOPC 8463 B Appellant/Revenue Respondent/Assessee Assessee represented by Shri Akshay Mitish Kumar Modi, C.A. Department represented by Shri Vinod Kumar, Sr. DR Appeal instituted on 24/07/2023 Date of hearing 28/11/2023 Date of pronouncement 28/11/2023 Order under Section 254(1) of Income Tax Act PER: PAWAN SINGH, JUDICIAL MEMBER: 1. This appe…

ITO(TDS), Ajmer vs. Divisionl Forest Officer, Ajmer

In the result, the appeal of the revenue in ITA no

ITA 360/JPR/2023[2018-19]Status: DisposedITAT Jaipur08 Nov 2023AY 2018-19

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 358 to 360/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2016-17 to 2018-19 Income Tax Officer (TDS), Ajmer cuke Vs. Divisional Forest Officer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. JDHD 02557 C vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Sunil Porwal (CA) jktLo dh vksj ls@ Revenue by : Sh. Anup Singh (Addl. CIT) lquokbZ dh rkjh[k@ Date of Hearing :

For Appellant: Sh. Sunil Porwal (CA)For Respondent: Sh. Anup Singh (Addl. CIT)
Section 10Section 10(20)Section 10(46)Section 11Section 133Section 194CSection 201Section 201(1)Section 80P

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 358 to 360/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2016-17 to 2018-19 cuke Income Tax Officer (TDS), Divisional Forest Officer Vs. Ajmer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. JDHD 02557 C vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Sunil Porwal (CA) jktLo dh vksj ls@ Revenue by : Sh. An…

Income Tax Officer (TDS), Ajmer vs. Divisionl Forest Officer, Ajmer

In the result, the appeal of the revenue in ITA no

ITA 359/JPR/2023[2017-18]Status: DisposedITAT Jaipur08 Nov 2023AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 358 to 360/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2016-17 to 2018-19 Income Tax Officer (TDS), Ajmer cuke Vs. Divisional Forest Officer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. JDHD 02557 C vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Sunil Porwal (CA) jktLo dh vksj ls@ Revenue by : Sh. Anup Singh (Addl. CIT) lquokbZ dh rkjh[k@ Date of Hearing :

For Appellant: Sh. Sunil Porwal (CA)For Respondent: Sh. Anup Singh (Addl. CIT)
Section 10Section 10(20)Section 10(46)Section 11Section 133Section 194CSection 201Section 201(1)Section 80P

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 358 to 360/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2016-17 to 2018-19 cuke Income Tax Officer (TDS), Divisional Forest Officer Vs. Ajmer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. JDHD 02557 C vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Sunil Porwal (CA) jktLo dh vksj ls@ Revenue by : Sh. An…

Income Tax Officer (TDS), Ajmer vs. Divisionl Forest Officer, Ajmer

In the result, the appeal of the revenue in ITA no

ITA 358/JPR/2023[2016-17]Status: DisposedITAT Jaipur08 Nov 2023AY 2016-17

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 358 to 360/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2016-17 to 2018-19 Income Tax Officer (TDS), Ajmer cuke Vs. Divisional Forest Officer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. JDHD 02557 C vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Sunil Porwal (CA) jktLo dh vksj ls@ Revenue by : Sh. Anup Singh (Addl. CIT) lquokbZ dh rkjh[k@ Date of Hearing :

For Appellant: Sh. Sunil Porwal (CA)For Respondent: Sh. Anup Singh (Addl. CIT)
Section 10Section 10(20)Section 10(46)Section 11Section 133Section 194CSection 201Section 201(1)Section 80P

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 358 to 360/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2016-17 to 2018-19 cuke Income Tax Officer (TDS), Divisional Forest Officer Vs. Ajmer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. JDHD 02557 C vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Sunil Porwal (CA) jktLo dh vksj ls@ Revenue by : Sh. An…

The Saturday Club Limited, Kolkata vs. DCIT, Circle - 8(2), Kolkata

In the result, the appeals of the Revenue for A

ITA 2491/KOL/2017[2012-13]Status: DisposedITAT Kolkata06 Nov 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice- & Dr. Manish Borad

Section 142(1)Section 143(2)

…esaid rental income was collected from the corporate member of the club. Accordingly, such rental income received from the corporate member cannot be taxed in the hands of the club as held by the Hon’ble Supreme Court in the case of CIT-vs-Bankipur Club Ltd. [226 ITR 97 (SC)]. The Supreme Court in the said decision has held the following - “...the amount received by the clubs were for supply of drinks, refreshments or other goods as also letting out of building for rent or by way of admission fees, periodic subscriptions and receipts from the members of the clubs were only for/towards charges for the privileges,…

The Saturday Club Limited, Kolkata vs. DCIT, Cir-8(2), Kolkata

In the result, the appeals of the Revenue for A

ITA 2377/KOL/2016[2011-12]Status: DisposedITAT Kolkata06 Nov 2023AY 2011-12

Bench: Shri Rajpal Yadav, Vice- & Dr. Manish Borad

Section 142(1)Section 143(2)

…esaid rental income was collected from the corporate member of the club. Accordingly, such rental income received from the corporate member cannot be taxed in the hands of the club as held by the Hon’ble Supreme Court in the case of CIT-vs-Bankipur Club Ltd. [226 ITR 97 (SC)]. The Supreme Court in the said decision has held the following - “...the amount received by the clubs were for supply of drinks, refreshments or other goods as also letting out of building for rent or by way of admission fees, periodic subscriptions and receipts from the members of the clubs were only for/towards charges for the privileges,…

DCIT, Circle-8, Kolkata vs. M/S. the Saturday Club Ltd, Kolkata

In the result, the appeals of the Revenue for A

ITA 1340/KOL/2012[2008-2009]Status: DisposedITAT Kolkata06 Nov 2023AY 2008-2009

Bench: Shri Rajpal Yadav, Vice- & Dr. Manish Borad

Section 142(1)Section 143(2)

…esaid rental income was collected from the corporate member of the club. Accordingly, such rental income received from the corporate member cannot be taxed in the hands of the club as held by the Hon’ble Supreme Court in the case of CIT-vs-Bankipur Club Ltd. [226 ITR 97 (SC)]. The Supreme Court in the said decision has held the following - “...the amount received by the clubs were for supply of drinks, refreshments or other goods as also letting out of building for rent or by way of admission fees, periodic subscriptions and receipts from the members of the clubs were only for/towards charges for the privileges,…

The Commissioner of Income Tax, International Taxation-1, New Delhi vs. Deloitte Touche Tohmastu

The appeals stand disposed of

ITA/403/2022HC Delhi18 Oct 2023

Bench: HON'BLE MR. JUSTICE RAJIV SHAKDHER,HON'BLE MR. JUSTICE GIRISH KATHPALIA

Section 143(2)Section 260A

…ions of Verein, showing that the respondent/assessee is an association of its members, managed by its members and providing services solely for the benefits of its members. Placing reliance on the judgments in the cases of CIT vs Bankipur Club Ltd, (1997) 5 SCC 394; Chelmsford Club vs CIT, (2000) 3 SCC 214 and Commissioner of Income Tax vs Common Effluent Plant (Thane Belapur) Association, (2010) SCC OnLine Bom 2042, learned counsel for the respondent/assessee strongly contended that the present case clearly stands governed by the concept of mutuality. 6. Thence, fulcrum of the present disp…

The Commissioner of Income Tax, International Taxation-1, New Delhi vs. Deloitte Touche Tohmastu

The appeals stand disposed of

ITA/404/2022HC Delhi18 Oct 2023

Bench: HON'BLE MR. JUSTICE RAJIV SHAKDHER,HON'BLE MR. JUSTICE GIRISH KATHPALIA

Section 143(2)Section 260A

…ions of Verein, showing that the respondent/assessee is an association of its members, managed by its members and providing services solely for the benefits of its members. Placing reliance on the judgments in the cases of CIT vs Bankipur Club Ltd, (1997) 5 SCC 394; Chelmsford Club vs CIT, (2000) 3 SCC 214 and Commissioner of Income Tax vs Common Effluent Plant (Thane Belapur) Association, (2010) SCC OnLine Bom 2042, learned counsel for the respondent/assessee strongly contended that the present case clearly stands governed by the concept of mutuality. 6. Thence, fulcrum of the present disp…

Income Tax Officer-19(3)(1), Mumbai vs. Tahnee Heights Co-Operative Housing Society Limited, Mumbai

In the result, the appeal of the R

ITA 2215/MUM/2023[2017-18]Status: DisposedITAT Mumbai10 Oct 2023AY 2017-18

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita No. 2213, 2214 & 2215/Mum/2023 Assessment Year: 2014-15, 2015-16 & 2017-18 Ito-19(3)(1), Tahnee Heights Co-Operative Piramal Chamber, Room No. Housing Society Ltd., Vs. 405, Lalbaug, Mumbai- Ground Floor, Tahnee Heights, 400012. 66 Nepean Sea Road, Malabar Hill, Mumbai-400006. Pan No. Aaaat 6303 N Appellant Respondent Assessee By : Mr. Samir Saraiya, Ca Revenue By : Mr. P.D. Chogule, Cit-Dr : Date Of Hearing 05/10/2023 Date Of Pronouncement : 10/10/2023

For Appellant: Mr. Samir Saraiya, CAFor Respondent: Mr. P.D. Chogule, CIT-DR
Section 80P(2)(d)

…ted by the 4.2 The principles of mutuality has been elaborated by the Honble Supreme Court in the case of CIT vs. Bankipur Club Ltd. Honble Supreme Court in the case of CIT vs. Bankipur Club Ltd. Honble Supreme Court in the case of CIT vs. Bankipur Club Ltd. (226 ITR 97) wherein the Hon'ble Supreme Court has held that for TR 97) wherein the Hon'ble Supreme Court has held that for TR 97) wherein the Hon'ble Supreme Court has held that for applying the principle of mutuality, "there must be complete applying the principle of mutuality, "there must be complete applying the principle of mutuality, "there must be comp…

Income Tax Officer-19(3)(1), Mumbai vs. Tahnee Heights Co-Operative Housing Society Limited, Mumbai

In the result, the appeal of the R

ITA 2214/MUM/2023[2015-2016]Status: DisposedITAT Mumbai10 Oct 2023AY 2015-2016

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita No. 2213, 2214 & 2215/Mum/2023 Assessment Year: 2014-15, 2015-16 & 2017-18 Ito-19(3)(1), Tahnee Heights Co-Operative Piramal Chamber, Room No. Housing Society Ltd., Vs. 405, Lalbaug, Mumbai- Ground Floor, Tahnee Heights, 400012. 66 Nepean Sea Road, Malabar Hill, Mumbai-400006. Pan No. Aaaat 6303 N Appellant Respondent Assessee By : Mr. Samir Saraiya, Ca Revenue By : Mr. P.D. Chogule, Cit-Dr : Date Of Hearing 05/10/2023 Date Of Pronouncement : 10/10/2023

For Appellant: Mr. Samir Saraiya, CAFor Respondent: Mr. P.D. Chogule, CIT-DR
Section 80P(2)(d)

…ted by the 4.2 The principles of mutuality has been elaborated by the Honble Supreme Court in the case of CIT vs. Bankipur Club Ltd. Honble Supreme Court in the case of CIT vs. Bankipur Club Ltd. Honble Supreme Court in the case of CIT vs. Bankipur Club Ltd. (226 ITR 97) wherein the Hon'ble Supreme Court has held that for TR 97) wherein the Hon'ble Supreme Court has held that for TR 97) wherein the Hon'ble Supreme Court has held that for applying the principle of mutuality, "there must be complete applying the principle of mutuality, "there must be complete applying the principle of mutuality, "there must be comp…

Income Tax Officer-19(3)(1), Mumbai vs. Tahnee Heights Co-Operative Housing Society Limited, Mumbai

In the result, the appeal of the R

ITA 2213/MUM/2023[2014-2015]Status: DisposedITAT Mumbai10 Oct 2023AY 2014-2015

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Ita No. 2213, 2214 & 2215/Mum/2023 Assessment Year: 2014-15, 2015-16 & 2017-18 Ito-19(3)(1), Tahnee Heights Co-Operative Piramal Chamber, Room No. Housing Society Ltd., Vs. 405, Lalbaug, Mumbai- Ground Floor, Tahnee Heights, 400012. 66 Nepean Sea Road, Malabar Hill, Mumbai-400006. Pan No. Aaaat 6303 N Appellant Respondent Assessee By : Mr. Samir Saraiya, Ca Revenue By : Mr. P.D. Chogule, Cit-Dr : Date Of Hearing 05/10/2023 Date Of Pronouncement : 10/10/2023

For Appellant: Mr. Samir Saraiya, CAFor Respondent: Mr. P.D. Chogule, CIT-DR
Section 80P(2)(d)

…ted by the 4.2 The principles of mutuality has been elaborated by the Honble Supreme Court in the case of CIT vs. Bankipur Club Ltd. Honble Supreme Court in the case of CIT vs. Bankipur Club Ltd. Honble Supreme Court in the case of CIT vs. Bankipur Club Ltd. (226 ITR 97) wherein the Hon'ble Supreme Court has held that for TR 97) wherein the Hon'ble Supreme Court has held that for TR 97) wherein the Hon'ble Supreme Court has held that for applying the principle of mutuality, "there must be complete applying the principle of mutuality, "there must be complete applying the principle of mutuality, "there must be comp…

Prathamik Krushi Pattin Sahakari Sangh Niyamit, Bedkihal vs. Income Tax Officer, Ward - 1, Nipani

ITA 24/PAN/2023[2017-18]Status: DisposedITAT Panaji06 Oct 2023AY 2017-18

Bench: Hon’Ble Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) Asstt Sr

Section 250Section 253(1)Section 80P(2)

…mutuality has to be tested transaction to transaction and instance to instance and to lift the veil it necessity to discern the nature of each transaction when so required’. And applying the dictum laid by their Lordships in ‘CIT Vs Bankipur Club’ reported in 5 SCC 394 ‘a host of factors need to be considered to arrive at a conclusion as to at what point does the relationship of mutuality end and that of trading begin’. And this exercise, in our considered view needs to be undertaken for each assessment year separately, since each assessment year is a separate unit in view of the law laid down by the Apex Court i…