https://www.taxtmi.com/caselaws?id=300382 The tribunal dismissed all sixteen appeals filed by the assessee, holding that the mutuality account deficit is not eligible for set-off against income from other sources under Sections 70 and 71 of the Income Tax Act. The tribunal also upheld the CIT(A)'s decision on the taxability of income derived on principles of mutuality and the adjustment of loss from other heads of income. The issue of TDS credit in rectification proceedings was not pressed by the assessee and was consequently rejected. en-us Mon, 25 Oct 2021 00:00:00 +0530 Fri, 28 Jan 2022 19:40:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300382 The tribunal dismissed all sixteen appeals filed by the assessee, holding that the mutuality account deficit is not eligible for set-off against income from other sources under Sections 70 and 71 of the Income Tax Act. The tribunal also upheld the CIT(A)'s decision on the taxability of income derived on principles of mutuality and the adjustment of loss from other heads of income. The issue of TDS credit in rectification proceedings was not pressed by the assessee and was consequently rejected. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300382