https://www.taxtmi.com/caselaws?id=470977 Taxability of an assessee's interest income outside the principle of mutuality depends on factual verification of complete identity between contributors and participants. The inquiry must also establish whether transactions are confined to persons contributing to a common fund, without dealings with outside bodies. Exemption under Section 11 cannot be denied without examining these factual requirements, as they are material to determining whether the income retains its mutual character. en-us Fri, 28 Jul 2017 00:00:00 +0530 Mon, 17 Aug 2026 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470977 Taxability of an assessee's interest income outside the principle of mutuality depends on factual verification of complete identity between contributors and participants. The inquiry must also establish whether transactions are confined to persons contributing to a common fund, without dealings with outside bodies. Exemption under Section 11 cannot be denied without examining these factual requirements, as they are material to determining whether the income retains its mutual character. Case-Laws Income Tax Fri, 28 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470977