https://www.taxtmi.com/caselaws?id=123028 The Tribunal dismissed the Departmental appeal, upholding the deletion of the addition made by the Assessing Officer. The contributions to the scheme by the co-operative society were deemed capital in nature and not income, based on the principle of mutuality. The Tribunal emphasized that the funds were utilized solely for the members' benefit, following legal precedents and affirming that the contributions were not assessable as income under the IT Act. en-us Wed, 30 Jun 2010 00:00:00 +0530 Thu, 30 Aug 2012 10:25:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123028 The Tribunal dismissed the Departmental appeal, upholding the deletion of the addition made by the Assessing Officer. The contributions to the scheme by the co-operative society were deemed capital in nature and not income, based on the principle of mutuality. The Tribunal emphasized that the funds were utilized solely for the members' benefit, following legal precedents and affirming that the contributions were not assessable as income under the IT Act. Case-Laws Income Tax Wed, 30 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123028