https://www.taxtmi.com/caselaws?id=241637 The Tribunal upheld the CIT (A)'s decision in favor of the assessee in both the Revenue appeal and the Cross Objection. It ruled that share transfer fees, nominee occupancy charges, security deposits, and interest income were exempt from tax under the principle of mutuality. The Tribunal referred to past decisions and legal principles, particularly citing the Bangalore Club case, to support its judgment. The Revenue's appeal was dismissed, and the Cross Objection was partly allowed for statistical purposes, with the issue of interest income remitted back to the AO for fresh adjudication. en-us Fri, 20 Dec 2013 00:00:00 +0530 Sat, 28 Dec 2013 09:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241637 The Tribunal upheld the CIT (A)'s decision in favor of the assessee in both the Revenue appeal and the Cross Objection. It ruled that share transfer fees, nominee occupancy charges, security deposits, and interest income were exempt from tax under the principle of mutuality. The Tribunal referred to past decisions and legal principles, particularly citing the Bangalore Club case, to support its judgment. The Revenue's appeal was dismissed, and the Cross Objection was partly allowed for statistical purposes, with the issue of interest income remitted back to the AO for fresh adjudication. Case-Laws Income Tax Fri, 20 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241637