https://www.taxtmi.com/caselaws?id=463733 Interest earned by clubs on fixed deposits of surplus funds in banks is treated as income from other sources under Section 2(24) of the Income Tax Act, and the principle of mutuality does not exclude such bank interest, as reflected in the cited Supreme Court ruling. In the present review proceedings, the Supreme Court found no error apparent on the face of the record and no merit warranting reconsideration, so the review petitions were dismissed. en-us Tue, 09 Jan 2024 00:00:00 +0530 Sat, 13 Sep 2025 14:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463733 Interest earned by clubs on fixed deposits of surplus funds in banks is treated as income from other sources under Section 2(24) of the Income Tax Act, and the principle of mutuality does not exclude such bank interest, as reflected in the cited Supreme Court ruling. In the present review proceedings, the Supreme Court found no error apparent on the face of the record and no merit warranting reconsideration, so the review petitions were dismissed. Case-Laws Income Tax Tue, 09 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463733