https://www.taxtmi.com/caselaws?id=272739 The Tribunal partly allowed the Revenue's appeals, directing the AO to tax the incomes accordingly and allow deductions as permissible. The judgments were based on the application of the principle of mutuality and relevant legal precedents, ensuring the correct tax treatment of the incomes involved. The income from allowing advertisement boards in the club premises was held to be taxable under "Income from other sources" rather than "Income from Business," and the rental income from a member was taxed under "Income from House Property." The interest income from fixed deposits with a club member bank was also taxed under "Income from other sources." en-us Fri, 02 Dec 2016 00:00:00 +0530 Wed, 16 May 2018 06:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272739 The Tribunal partly allowed the Revenue's appeals, directing the AO to tax the incomes accordingly and allow deductions as permissible. The judgments were based on the application of the principle of mutuality and relevant legal precedents, ensuring the correct tax treatment of the incomes involved. The income from allowing advertisement boards in the club premises was held to be taxable under "Income from other sources" rather than "Income from Business," and the rental income from a member was taxed under "Income from House Property." The interest income from fixed deposits with a club member bank was also taxed under "Income from other sources." Case-Laws Income Tax Fri, 02 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272739