https://www.taxtmi.com/caselaws?id=313596 The ITAT Mumbai remanded the case back to the Assessing Officer regarding taxability of ISM contributions received by a foreign company (US tax resident) from hotels. The appellant claimed mutuality principle applied as complete identity existed between MHR Fund contributors and surplus participants, arguing ISM contributions were mere expense reimbursements, not taxable income. While CIT(A)'s direction to apply previous Tribunal order was justified for payment nature determination, the mutuality defense remained unaddressed. ITAT directed AO to consider both the previous Tribunal order and the mutuality issue raised by the assessee, ensuring proper hearing before passing fresh order. en-us Fri, 09 Mar 2018 00:00:00 +0530 Tue, 23 Apr 2024 19:43:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313596 The ITAT Mumbai remanded the case back to the Assessing Officer regarding taxability of ISM contributions received by a foreign company (US tax resident) from hotels. The appellant claimed mutuality principle applied as complete identity existed between MHR Fund contributors and surplus participants, arguing ISM contributions were mere expense reimbursements, not taxable income. While CIT(A)'s direction to apply previous Tribunal order was justified for payment nature determination, the mutuality defense remained unaddressed. ITAT directed AO to consider both the previous Tribunal order and the mutuality issue raised by the assessee, ensuring proper hearing before passing fresh order. Case-Laws Income Tax Fri, 09 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313596