Race Club can claim principle of mutuality in regard to entrance fee received from non-voting members

Madras Race Club Vs DCIT (ITAT Chennai)

We noted that there are difference forms of members that are group members, stand members or non­voting members and temporary members. The stand members or non-voting members are with different types of rights and they are not allowed amenities on race days. Even they are not entitled to participate in meetings or management activities. This is specifically barred in the Article of Association and the relevant clause -4 reads as under:-

Please become a Premium member. If you are already a Premium member, login here to access the full content.