Income Tax Officer vs Poona Club Ltd.

Authority: ITAT Tribunal/Court: Pune Date: 1984-03-12 AY: 1977-78, 1978-79, 1979-80, 1980-81 Acts: Income Tax Act 1961 Result: Assessee Citation: (1984) 9 ITD (PUNE) 338 Justices: T. A. Bukte, J.M. & Kanwal Krishan, A.M. Appeal No: IT Appeal Nos. 39 & 40/Pune/1982; Asst. yrs. 1977-78 & 1978-79, IT Appeal N
Whether income from letting out cottage suites to members of a club is exempt from tax under the principle of mutuality --- Held Yes. Whether the principle of mutuality applies despite certain classes of members being excluded from claiming assets upon dissolution --- Held Yes.

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