CIT v. Rayal Western India Turb Club Ltd (

234 ITR 308High Court1998#17305 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2024.

Sections most often in play

Section 147Section 154Section 57(iii)

Judgments citing CIT v. Rayal Western India Turb Club Ltd (

Madras Gymkhana Club, Chennai vs. Commissioner of Income Tax (Appeals), Chennai

In the result, both appeals filed by the assessee are dismissed

ITA 75/CHNY/2023[2016-2017]Status: DisposedITAT Chennai21 Aug 2024AY 2016-2017

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.74 & 75/Chny/2023 िनधा"रण वष"/Assessment Years: 2017-18 & 2016-17 V. Madras Gymkhana Club, The Ito, The Island No.1, Ncw-9(2), Anna Salai, Chennai. Chennai – 600 002. [Pan: Aaatm 7562 R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 143(1)Section 154

…th the Assessment Orders have not considered the order of the Hon’ble Madras High Court in the assessee’s own case, wherein, the Hon’ble High Court has concurred with the decision of the Hon’ble Karnataka High Court in the case of Bangalore Club reported in 234 ITR 308, which decision of the Hon’ble Karnataka High Court has been upheld by the Hon’ble Supreme ITA Nos.74 & 75/Chny/2023 (AY 2017-18 & 2016-17) Madras Gymkhana Club :: 6 :: Court in the case of Bangalore Club reported in [2013] 5 SCC 509. The Ld.CIT(A) while considering the Miscellaneous Application (MA) moved by the AO (supra) gave notice to the a…

Madras Gymkhana Club, Chennai vs. Commissioner of Income-Tax (Appeals), Chennai

In the result, both appeals filed by the assessee are dismissed

ITA 74/CHNY/2023[2017-2018]Status: DisposedITAT Chennai21 Aug 2024AY 2017-2018

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.74 & 75/Chny/2023 िनधा"रण वष"/Assessment Years: 2017-18 & 2016-17 V. Madras Gymkhana Club, The Ito, The Island No.1, Ncw-9(2), Anna Salai, Chennai. Chennai – 600 002. [Pan: Aaatm 7562 R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 143(1)Section 154

…th the Assessment Orders have not considered the order of the Hon’ble Madras High Court in the assessee’s own case, wherein, the Hon’ble High Court has concurred with the decision of the Hon’ble Karnataka High Court in the case of Bangalore Club reported in 234 ITR 308, which decision of the Hon’ble Karnataka High Court has been upheld by the Hon’ble Supreme ITA Nos.74 & 75/Chny/2023 (AY 2017-18 & 2016-17) Madras Gymkhana Club :: 6 :: Court in the case of Bangalore Club reported in [2013] 5 SCC 509. The Ld.CIT(A) while considering the Miscellaneous Application (MA) moved by the AO (supra) gave notice to the a…

Kalaimaghal Sabha, Chennai vs. ITO, Chennai

In the result, the appeals filed by the assessee are partly allowed

ITA 1404/CHNY/2017[2013-14]Status: DisposedITAT Chennai08 Jan 2018AY 2013-14

Bench: Shri Abraham P.George & Shri George Mathan

For Respondent: Mr.N.Madhavan, ACIT

…hant Navy Club (96 ITR 261 (AP) c) CIT Vs Nataraj Finance Corpn (169 ITR 732 (AP) d) CIT Vs J.K.Organisation Ltd (279 ITR 503 (All) e) Chelmsford Club Vs CIT (243 ITR 89 (SC) f) CIT Vs Rayal Western India Turb Club Ltd (24 ITR 551) g) CIT Vs I.T.I. Employees (234 ITR 308 Kar) h) CIT Vs Cawnpore Club (140 Taxman 378) ITA Nos.1997 & 1998/Mds/2016 ITA Nos.1403 & 1404/Mds/2017 :- 5 -: The case laws where it has been held that interests on fixed deposits are also exempted on mutuality principle are as under: a) CIT vs Delhi Gymkhana Club Ltd. (339 ITR 525, Delhi). b) DIT vs All India Oriental Bank of Commerce Welfa…

Kalaimaghal Sabha, Chennai vs. ITO, Chennai

In the result, the appeals filed by the assessee are partly allowed

ITA 1403/CHNY/2017[2012-13]Status: DisposedITAT Chennai08 Jan 2018AY 2012-13

Bench: Shri Abraham P.George & Shri George Mathan

For Respondent: Mr.N.Madhavan, ACIT

…hant Navy Club (96 ITR 261 (AP) c) CIT Vs Nataraj Finance Corpn (169 ITR 732 (AP) d) CIT Vs J.K.Organisation Ltd (279 ITR 503 (All) e) Chelmsford Club Vs CIT (243 ITR 89 (SC) f) CIT Vs Rayal Western India Turb Club Ltd (24 ITR 551) g) CIT Vs I.T.I. Employees (234 ITR 308 Kar) h) CIT Vs Cawnpore Club (140 Taxman 378) ITA Nos.1997 & 1998/Mds/2016 ITA Nos.1403 & 1404/Mds/2017 :- 5 -: The case laws where it has been held that interests on fixed deposits are also exempted on mutuality principle are as under: a) CIT vs Delhi Gymkhana Club Ltd. (339 ITR 525, Delhi). b) DIT vs All India Oriental Bank of Commerce Welfa…

M/S Amardeep Co-Operative Housing Society Ltd., Kolkata vs. The ITO, W-12(3), Kolkata

In the result, the appeal of the assessee is allowed

ITA 314/KOL/2016[2009-2010]Status: DisposedITAT Kolkata09 Dec 2016AY 2009-2010

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri S. K. Tulsiyan, AdvocateFor Respondent: Shri Sallong Yaden, Addl. CIT
Section 143(1)Section 143(2)Section 143(3)

…earning of huge surplus amounts by way of interest cannot be held to satisfy the mutuality concept placing reliance on the decision of the Hon’ble Karnataka High Court in the case of CIT vs ITI Employees Death and Superannuation Relief Fund reported in (1998) 234 ITR 308 (Kar). Accordingly the ld AO treated the sum of Rs.1,22,400/- being the interest income on fixed deposits on accrual basis and brought the difference of Rs. 1,13,467/- ( 1,22,400-8,933) to tax. 2.2. Before the ld CITA, the assessee argued that interest on fixed deposits accrue from year to year and are paid along with the proceeds on maturity an…