Doctrine of mutuality does not apply in case business activities of an assessee-firm is not restricted to partners only

DECIDED BY: HIGH COURT OF KARNATAKA, IN THE CASE OF: Prabhashankar Plaza Vs. ITO, APPEAL NO: ITA No. 2612/2005, DECIDED ON February 16, 2010 ______JUDGMENT_______ In this appeal, the assessee has challenged the order dated 4.2.2005 passed in 1TA 222, 223, 1057 and 1058 / Bang/2002 passed by the Income Tax Appellate Tribunal, Bangalore Bench and has sought for the benefit of the doctrine of mutuality in the instant case. The facts of the case are that the appellant assessee is a partnership firm carrying on the business as property developers, traders in general merchandise and as commission ag...