IT : Subsequent amendments or subsequent interpretation of statute is not a ground to reopen concluded assessments
IT : Deduction under section 80P(2)(a)(i) could not be denied to assessee for investment made by it in private or public limited company
On the principle of mutuality, the High Court of Jharkhand has exempted the services granted by a club to its members from payment of service tax
Difference between 'sale' and 'service' What is common to both 'sale' and 'service' Sale entails transfer of property whereas in service, there is no transfer of property. Both transaction requires existence of the two parties; in the matter of sale, the seller and buyer, and in the matter of service, service provider and service receiver. • As service also requires two distinct parties like in case of sale, the judicial decisions exempting "sales" by Members' Club to its members from sales tax/income tax are equally applicable in the context of service tax as well.
• In view of the mutuality and in view of the activities of the club, if club provides any service to its members may be in any form including as mandap keeper, then it is not a service by one to another foundational facts of existence of two legal entities in such transaction is missing. -  22 taxmann.com 217 (Jharkhand)