COUNTRY CLUB Vs. DIRECTOR OF INCOME TAX
LAWS(DLH)-2007-5-151
HIGH COURT OF DELHI
Decided on May 11,2007

COUNTRY CLUB Appellant
VERSUS
DIRECTOR OF INCOME TAX Respondents

JUDGEMENT

MADAN B.LOKUR, J. - (1.) After hearing learned counsel for the parties we admit this appeal and frame the following substantial question of law:- "Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal erred in law in holding that the amount received by way of interest from banks on temporary deposit of the funds is not exempted from tax on the "principle of mutuality" ""
(2.) Since a short question of law is involved, filing of paper books is dispensed with.
(3.) The Assessee is aggrieved by an order dated 7th March, 2002 passed by the Income Tax Appellate Tribunal, Delhi Bench 'A' in ITA Nos.7486 and7487/Del/1995 relevant for the assessment years 1991-92 and 1992-93.;


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