https://www.taxtmi.com/caselaws?id=21724 The Tribunal held that the assessee-club is a 'mutual concern' and that the income derived from house property and the sale of liquor to its members and their guests is not taxable based on the principle of mutuality. The court emphasized that the principle of mutuality applies to transactions with members but not with non-members or temporary members, overturning a previous decision and ruling in favor of the club on all issues. en-us Tue, 24 Sep 1991 00:00:00 +0530 Wed, 26 Aug 2015 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21724 The Tribunal held that the assessee-club is a 'mutual concern' and that the income derived from house property and the sale of liquor to its members and their guests is not taxable based on the principle of mutuality. The court emphasized that the principle of mutuality applies to transactions with members but not with non-members or temporary members, overturning a previous decision and ruling in favor of the club on all issues. Case-Laws Income Tax Tue, 24 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21724