https://www.taxtmi.com/caselaws?id=168398 Rent realised by a club from members for residential quarters was treated as income from property under the Indian Income-tax Act because taxation under the house-property head depends on ownership and annual letting value, not on the identity of the occupiers. The heads of income were described as mutually exclusive, so receipts falling under section 9 could not be recharacterised under another head. The principle of mutuality was held inapplicable to house-property receipts; it was confined to business receipts and, on the stated facts, there was no complete identity between contributors and participants in any event. en-us Thu, 06 Sep 1962 00:00:00 +0530 Thu, 26 Feb 2015 14:14:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168398 Rent realised by a club from members for residential quarters was treated as income from property under the Indian Income-tax Act because taxation under the house-property head depends on ownership and annual letting value, not on the identity of the occupiers. The heads of income were described as mutually exclusive, so receipts falling under section 9 could not be recharacterised under another head. The principle of mutuality was held inapplicable to house-property receipts; it was confined to business receipts and, on the stated facts, there was no complete identity between contributors and participants in any event. Case-Laws Income Tax Thu, 06 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168398