https://www.taxtmi.com/caselaws?id=305902 The ITAT upheld the classification of effluent treatment receipts as business income due to the company's surplus and dealings with non-members. The principle of mutuality was not applied as the company did not exclusively deal with its members. The ITAT directed the A.O. to verify services provided to non-members for tax purposes. Other issues such as the non-granting of set off for carried forward losses, deduction u/s 80IA, disallowance of non-business expenditure, and allowance of depreciation were secondary to the mutuality principle. Appeals were set aside for statistical purposes. en-us Fri, 20 Apr 2012 00:00:00 +0530 Thu, 29 Dec 2022 11:22:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305902 The ITAT upheld the classification of effluent treatment receipts as business income due to the company's surplus and dealings with non-members. The principle of mutuality was not applied as the company did not exclusively deal with its members. The ITAT directed the A.O. to verify services provided to non-members for tax purposes. Other issues such as the non-granting of set off for carried forward losses, deduction u/s 80IA, disallowance of non-business expenditure, and allowance of depreciation were secondary to the mutuality principle. Appeals were set aside for statistical purposes. Case-Laws Income Tax Fri, 20 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305902