https://www.taxtmi.com/caselaws?id=122803 The Tribunal held that income from interest on Fixed Deposit Receipts, dividends, and profits on the sale of investments earned by the association were exempt from tax under the principle of mutuality. It was concluded that such income should not be included in the computation of book profit under Section 115JB of the Income-tax Act. The appellant's appeal was allowed, and the decisions of the lower authorities were overturned. en-us Wed, 30 Sep 2009 00:00:00 +0530 Mon, 28 Aug 2023 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122803 The Tribunal held that income from interest on Fixed Deposit Receipts, dividends, and profits on the sale of investments earned by the association were exempt from tax under the principle of mutuality. It was concluded that such income should not be included in the computation of book profit under Section 115JB of the Income-tax Act. The appellant's appeal was allowed, and the decisions of the lower authorities were overturned. Case-Laws Income Tax Wed, 30 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122803