https://www.taxtmi.com/caselaws?id=61374 Interest income from fixed deposits was treated as covered by the mutuality principle because the Tribunal had already found the assessee-club to be a mutual benefit society and had followed its earlier view for prior assessment years, including rental receipts and interest income. On that factual basis, the proposed reference under section 256(1) did not disclose any fresh referable question of law arising from the Tribunal's order. The reference application was therefore dismissed. en-us Tue, 25 Feb 1986 00:00:00 +0530 Fri, 15 Jan 2016 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61374 Interest income from fixed deposits was treated as covered by the mutuality principle because the Tribunal had already found the assessee-club to be a mutual benefit society and had followed its earlier view for prior assessment years, including rental receipts and interest income. On that factual basis, the proposed reference under section 256(1) did not disclose any fresh referable question of law arising from the Tribunal's order. The reference application was therefore dismissed. Case-Laws Income Tax Tue, 25 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61374