P&H HC: Eyewitness Account Not Credible if Eyewitness Directly Identifies Accused in Court  ||  Delhi HC: Conditions u/s 45 PMLA Have to Give Way to Article 21 When Accused Incarcerated for Long  ||  Delhi High Court: Delhi Police to Add Grounds of Arrest in Arrest Memo  ||  Kerala High Court: Giving Seniority on the Basis of Rules is a Policy Decision  ||  Del. HC: Where Arbitrator has Taken Plausible View, Court Cannot Interfere u/s 34 of A&C Act  ||  Ker. HC: No Question of Estoppel Against Party Where Error is Committed by Court Itself  ||  Supreme Court: Revenue Entries are Admissible as Evidence of Possession  ||  SC: Mere Breakup of Relationship Between Consenting Couple Can’t Result in Criminal Proceedings  ||  SC: Bar u/s 195 CrPC Not Attracted Where Proceedings Initiated Pursuant to Judicial Order  ||  NTF Gives Comprehensive Suggestions on Enhancing Better Working Conditions of Medical Professions    

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 2024 - All Rights Reserved