https://www.taxtmi.com/caselaws?id=26994 The High Court affirmed the Appellate Tribunal's decisions that profits from sales to members and subsidies received by the society were taxable as income. The court found no mutuality in the dealings between the society and its members, making the profits taxable. Additionally, the subsidies and grants were considered revenue receipts connected to the society's business activities, following the Tribunal's reasoning. The court upheld the Tribunal's rulings in favor of the Department, denying exemption on the ground of mutuality and confirming the taxability of the subsidies and grants. en-us Mon, 01 Apr 1985 00:00:00 +0530 Wed, 10 Feb 2010 10:24:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26994 The High Court affirmed the Appellate Tribunal's decisions that profits from sales to members and subsidies received by the society were taxable as income. The court found no mutuality in the dealings between the society and its members, making the profits taxable. Additionally, the subsidies and grants were considered revenue receipts connected to the society's business activities, following the Tribunal's reasoning. The court upheld the Tribunal's rulings in favor of the Department, denying exemption on the ground of mutuality and confirming the taxability of the subsidies and grants. Case-Laws Income Tax Mon, 01 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26994