2009 (12) TMI 106

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....pondent: Mr.J.Naresh Kumar,Sr.S.C. for Income-tax Dept. JUDGMENT (Judgment of the Court was delivered by K.RAVIRAJA PANDIAN, J.) The Tax Case Appeals in T.C.A.Nos.2156 of 2006, 214, 1024 and 1025 of 2007 are filed under section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, Madras 'D' Bench, Chennai, dated 25.11.2005 in I.T.A.Nos.1548, 1550, 1549 and 1551/Mds/2002 for the assessment years 1994-95, 1996-97, 1995-96 and 1997-98 respectively. The appeals are admitted on the following questions of law in respect of T.C.A.Nos.2156 of 2006 and 214 and 1024 of 2007 and on only question of law No.1 in respect of T.C.A.No.1025 of 2007: "1. Whether on the facts and in the circumstances of the case, the I....

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....Income Tax Appellate Tribunal and the Tribunal dismissed the appeals. Aggrieved by the same, the present appeal is filed. (b) T.C.A.No.214 of 2007: The appellant club is a company registered under Section 25 of the Companies Act, 1956. The assessing officer had while completing the assessment under Section 143(3) held that the concept of mutuality will not be applicable in respect of miscellaneous income amounting to Rs.1,53,452/- and interest on investment amounting to Rs.1,86,365/- by observing that the same were received from non-members and assessed the same to tax. Aggrieved by the assessment order, the appellant filed an appeal before the Commissioner of Income Tax (Appeals) claiming that the interest income from fixed deposits and....

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....harges, etc., are not chargeable to tax since appellant company is a mutual concern and claimed exemption under section 11 in the alternative. The Commissioner of Income-tax (Appeals) had dismissed the appeal in common order for assessment years 1994-95 to 1996-97.Aggrieved by the order the appellant filed appeal before the Income Tax Appellate Tribunal and the Tribunal dismissed the appeal. Aggrieved by the same, the present appeal is filed. (d) T.C.A.No.1025 of 2007: The appellant club is a company registered under Section 25 of the Companies Act, 1956. The assessing officer had while completing the assessment under Section 143(3) held that the concept of mutuality will not be applicable in respect of scrap sales out of miscellaneous i....

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....has been considered and decided by the Supreme Court in the case of COMMISSIONER OF INCOME TAX VS. BANKIPURCLUB LIMITED reported in 226 ITR 97 at page Nos.97 and 109. However on a reading of the order of the Tribunal, there is no finding available as to the miscellaneous income, hall charges, guest charges, mike charges, etc., Hence, we are of the view that the issue has to be remitted back to the Tribunal to consider the same in the light of the judgment of the Supreme Court in the case of COMMISSIONER OF INCOME TAX VS. BANKIPURCLUB LIMITED reported in 226 ITR 97 at page Nos.97 and 109. 5. In view of the above reasoning, the first question of law in the first three appeals in T.C.A.Nos.2156 of 2006, 214 and 1024 of 2007 and the question ....