https://www.taxtmi.com/caselaws?id=168398 The note addresses whether rent received by a club from members constitutes taxable income from property and whether the mutuality doctrine exempts such receipts. It clarifies that where taxability is predicated on ownership and annual letting value, receipts from hiring residential quarters to members are assessable as income from property under section 9; the heads of income are mutually exclusive so such receipts cannot be treated as business income. The mutuality principle is held irrelevant to assessment under section 9 and thus does not exempt the rent, though it may apply to receipts assessed as profits under section 10 when complete identity exists. 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 The note addresses whether rent received by a club from members constitutes taxable income from property and whether the mutuality doctrine exempts such receipts. It clarifies that where taxability is predicated on ownership and annual letting value, receipts from hiring residential quarters to members are assessable as income from property under section 9; the heads of income are mutually exclusive so such receipts cannot be treated as business income. The mutuality principle is held irrelevant to assessment under section 9 and thus does not exempt the rent, though it may apply to receipts assessed as profits under section 10 when complete identity exists. Case-Laws Income Tax Thu, 06 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168398