M/S. BANGALORE CLUB vs. COMMISSIONER OF INCOME TAX
SLP(C) No.-014470-014470 - 2006Supreme Court14 Jan 2013
Section 260A
exemption only in special cases covered under
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Page 9
JUDGMENT
clause (vii) of Section 2 (24) of the Act). The concept of
mutuality has been extended to defined groups of people
who contribute to a common fund, controlled by the group,
for a common benefit. Any amount surplus to that needed
to pursue the common purpose is said
