Calcutta HC: Demolition Orders Cannot be Challenged under Article 226 if a Statutory Appeal Exists  ||  Kerala High Court: Disability Pension is Payable to Voluntary Dischargee For Service-Related Illness  ||  Calcutta High Court: Partition Decree is Executable Only After Stamp Duty Payment  ||  Calcutta HC: Contempt Court Cannot Grant New Relief Beyond Original Order Once Compliance is Met  ||  Kerala High Court: Intentional Judicial Decisions Cannot be Altered as Clerical Errors under CPC  ||  Supreme Court: Delay In Filing Appeals under Section 74 of 2013 Land Acquisition Act is Condonable  ||  SC: Statutory Authorities may Intervene When Housing Societies Delay Membership Decisions  ||  SC: Quasi-Judicial Authorities Cannot Exercise Review Powers Unless Expressly Granted By Statute  ||  SC: Special Court Cannot Order Confiscation While Appeal Against Attachment Confirmation is Pending  ||  SC: Photocopies are Not Evidence Unless Conditions for Leading Secondary Evidence are Proved    

SC: Principle of Mutuality not Applicable to Income from Deposits in Member Banks - (21 Aug 2023)

DIRECT TAXATION

Supreme Court has held that if any income is earned by the Clubs through deposits made by clubs in banks that are members of the club, such income would not be covered under the principle of mutuality and would be liable to be taxed under the provisions of the Income Tax Act.

Tags : SUPREME COURT   PRINCIPLE OF MUTUALITY   CLUBS   BANKS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved