https://www.taxtmi.com/caselaws?id=32866 The High Court upheld the decision that the principle of mutuality did not apply to the assessee-company due to its commercial activities and discretionary contributions from YRIPL. The excess income over expenditure of Rs 44,44,002/- was deemed taxable as the activities were found to have a commercial purpose. The appeal was dismissed, affirming the lower authorities' findings that were not considered perverse, with no substantial question of law raised. en-us Wed, 01 Apr 2009 00:00:00 +0530 Mon, 12 Sep 2011 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32866 The High Court upheld the decision that the principle of mutuality did not apply to the assessee-company due to its commercial activities and discretionary contributions from YRIPL. The excess income over expenditure of Rs 44,44,002/- was deemed taxable as the activities were found to have a commercial purpose. The appeal was dismissed, affirming the lower authorities' findings that were not considered perverse, with no substantial question of law raised. Case-Laws Income Tax Wed, 01 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32866