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of <h1>Transfer Fees from Society Members Not Taxable under Mutuality Principle</h1> <h3>Shyam Cooperative Housing Society Ltd. Versus The Commissioner of Income Tax, Mumbai</h3> The Bombay HC held that transfer fees received by assessee societies from members are not taxable under the principle of mutuality, relying on precedent ... - The Bombay High Court ruled that transfer fees received by assessee societies from outgoing or incoming members are not liable to tax due to the principle of mutuality. The judgment was based on previous rulings and government circulars.
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