2012 (4) TMI 214

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.... Mr.Avinash D. Kango with Mr.Narendra Saxeria for respondent. ORAL JUDGEMNT (PER DR.D.Y.CHANDRACHUD, J.) :   1. This Appeal by the Revenue under Section 260A of the Income Tax Act, 1961 arises out of a decision of the Income Tax Appellate Tribunal dated 24 March 2010 for Assessment Year 2003-04. The following questions of law are raised in the Appeal: (a) Whether on the facts and ....

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....was right in ignoring the ratio involved in the case of CIT Vs. Bankipur Club Ltd 226 ITR 97 (SC) wherein the Supreme Court has discussed the principle of mutuality in respect of income from sports activity and the taxability of income received from non members which is squarely applicable to this case?   (e) Whether on the facts and circumstances of the case and in law, the ITAT was right....

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....e conclusion that the promotion of sports and games fell within the purview of Section 2 (15) since it constituted an advancement of any other object of general pubic utility. The Commissioner (Appeals) noted that the Assessing Officer rejected the claim of the Assessee merely on the ground that the facilities for the promotion of sports are provided to a limited group of people, being the members....

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....aid down by the Supreme Court, has held that the fact that the membership of the club is open to a section of the community would not detract from the fact that the club has been constituted for the advancement of any other object of general public utility. The Club is not formed for the benefit of an individual or a group of individuals as such. However, while affirming that the object of the Clu....