Bangalore Club vs Commissioner Of Income Tax

Authority: Supreme Court Date: 2013-01-14 AY: 1989-90, 1990-91, 1991-92, 1992-93, 1993-94, 1994-95, 1995-96, 1996-97, 1997-98, 1998-99, 1999-00, 2000-01 Section: 260A Acts: Income Tax Act 1961 Result: Assessee Citation: (2013) 84 CCH 020 ISCC (2013) 255 CTR (SC) 465 : (2013) 350 ITR 509 (SC) : (2013) 82 DTR (SC) 66 : ( Justices: D. K. Jain, J. Appeal No: CIVIL APPEAL No. 124 of 2007 & 125 OF 2007, 272, 273, 274, 275, 276-278 OF
Whether interest earned by an unincorporated Association of Persons (Bangalore Club) on fixed deposits placed with corporate member banks is exempt from income tax under the doctrine of mutuality --- Held Yes.

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