https://www.taxtmi.com/caselaws?id=56787 The Tribunal upheld the CIT(A) decision in favor of the club, ruling that income from letting out rooms by a club and other investments was exempt on principles of mutuality. The Tribunal relied on precedents set by the Allahabad High Court, concluding that the issue was conclusively decided and there was no need for further reference to the High Court. The Reference Application was rejected based on existing legal precedents and lack of new evidence. en-us Mon, 20 Oct 1986 00:00:00 +0530 Tue, 10 May 2011 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56787 The Tribunal upheld the CIT(A) decision in favor of the club, ruling that income from letting out rooms by a club and other investments was exempt on principles of mutuality. The Tribunal relied on precedents set by the Allahabad High Court, concluding that the issue was conclusively decided and there was no need for further reference to the High Court. The Reference Application was rejected based on existing legal precedents and lack of new evidence. Case-Laws Income Tax Mon, 20 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56787