https://www.taxtmi.com/caselaws?id=403085 The Tribunal partly allowed the appeals filed by the assessee, directing the AO to delete the addition of entrance fees collected from non-members based on the principle of mutuality. However, the claims regarding surplus income over expenditure, interest income, and loss being expenditure over income were dismissed in line with the Supreme Court's decision in Bangalore Club v. CIT. The order was pronounced on January 6, 2021, at Chennai. en-us Wed, 06 Jan 2021 00:00:00 +0530 Tue, 19 Jan 2021 10:48:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403085 The Tribunal partly allowed the appeals filed by the assessee, directing the AO to delete the addition of entrance fees collected from non-members based on the principle of mutuality. However, the claims regarding surplus income over expenditure, interest income, and loss being expenditure over income were dismissed in line with the Supreme Court's decision in Bangalore Club v. CIT. The order was pronounced on January 6, 2021, at Chennai. Case-Laws Income Tax Wed, 06 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403085