M/S. BANGALORE CLUB vs. COMMISSIONER OF INCOME TAX

1 AIR 1948 PC 142 (E) 2 (2000) 3 SCC 214 6 Page 7 JUDGMENT identity between the contributors to the fund and the assessee and the recipients from the funds, in as much as the interest earned by the assessee from the surplus fund invested in fixed deposits with member banks are always available and are used