2026 (4) TMI 49

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....e Respondent : Shri R.R.N. Shukla, Addl. CIT-D.R. ORDER (A) This appeal vide I.T.A. No.800/Lkw/2025has been filed by the assessee for Assessment Year 2017-18 against impugned appellate order dated 28/01/2025 (DIN & Order No.ITBA/APLS/S/250/2024- 25/1072616269(1) of Commissioner of Income Tax (Appeal) [CIT(A)], Gurugram. (B) In this case, assessment order dated 27.11.2019 was passed whereb....

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....n its recent decision, has settled controversy and affirmed its earlier decision in the case of Bangalore Club in 2023 (8) TMI 925 (Secunderabad Club ETC v CIT-V ETC (2023) (Civil Appeal no. 5195-5201 of 2012) Supreme Court dated 10.10.2023 the Supreme Court has held that the principle of mutuality would not apply to interest income earned on fixed deposits made by clubs, in banks, Irrespective of....

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....-op Housing Service Society Ltd. 166 taxmann.com 673 (ii) ITAT Hyderabad Bench- KMR Educational Society Vs ACIT reported in 55 taxmann.com 21 (D) At the time of hearing, learned Authorized Representative for the assessee submitted that reliance by the learned CIT(A) on the order of Hon'ble Supreme Court in cases of Bangalore Club in 2023 (8) TMI 925 and on Secunderabad Club ETC v CIT-....

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....IT(A) in their respective orders. (D.2.1)On perusal of the materials on record, it is found that the assessee did not get opportunity before the Assessing Officer and before the learned CIT(A) plead or establish that the assessee's case was distinguishable, and was not covered by orders of the Hon'ble Supreme Court in the aforesaid cases of Bangalore Club (Supra)and Secunderabad Club ETC v ....