https://www.taxtmi.com/caselaws?id=210635 Interest from deposits with banks or other third parties does not retain mutual character, so the mutuality principle is unavailable on that component; deduction under section 80P(2)(d) also depends on verification that the interest arose from investments with another co-operative society or co-operative bank, and the matter required factual inquiry. Transfer fee collection turns on whether the levy was authorised by the society's bye-laws and remained within mutual limits, so that issue was remanded for verification. Amounts collected as an infrastructure fund for use of additional FSI were treated as covered by mutuality because they were member contributions linked to common facilities, and were not taxable. en-us Fri, 06 Jan 2012 00:00:00 +0530 Fri, 17 Feb 2012 09:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210635 Interest from deposits with banks or other third parties does not retain mutual character, so the mutuality principle is unavailable on that component; deduction under section 80P(2)(d) also depends on verification that the interest arose from investments with another co-operative society or co-operative bank, and the matter required factual inquiry. Transfer fee collection turns on whether the levy was authorised by the society's bye-laws and remained within mutual limits, so that issue was remanded for verification. Amounts collected as an infrastructure fund for use of additional FSI were treated as covered by mutuality because they were member contributions linked to common facilities, and were not taxable. Case-Laws Income Tax Fri, 06 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210635