https://www.taxtmi.com/caselaws?id=762383 ITAT Kolkata dismissed the department's appeal regarding assessment of a club under the principle of mutuality. The tribunal held that the assessee club was established for non-profit purposes with distinct separation between club and members. Members had no rights to any surplus generated, and no activities were commercially tainted. Reserves were used solely for club activities, not member benefits. The club's activities were covered by the principle of mutuality, exempting it from taxation. en-us Tue, 19 Nov 2024 00:00:00 +0530 Sat, 30 Nov 2024 08:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762383 ITAT Kolkata dismissed the department's appeal regarding assessment of a club under the principle of mutuality. The tribunal held that the assessee club was established for non-profit purposes with distinct separation between club and members. Members had no rights to any surplus generated, and no activities were commercially tainted. Reserves were used solely for club activities, not member benefits. The club's activities were covered by the principle of mutuality, exempting it from taxation. Case-Laws Income Tax Tue, 19 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762383