https://www.taxtmi.com/caselaws?id=248417 Transfer fee receipts collected by a co-operative housing society under its bye-laws retained their character as mutual receipts. The analysis notes that an excess over a Government-prescribed ceiling did not, by itself, destroy mutuality where the receipts were traceable to dealings between the society and its members. It further states that the notification's limit was not determinative of taxability under the Act. On that basis, the receipts were treated as exempt under the principle of mutuality and not assessable as income from other sources. en-us Fri, 23 May 2014 00:00:00 +0530 Thu, 12 Jun 2014 10:57:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248417 Transfer fee receipts collected by a co-operative housing society under its bye-laws retained their character as mutual receipts. The analysis notes that an excess over a Government-prescribed ceiling did not, by itself, destroy mutuality where the receipts were traceable to dealings between the society and its members. It further states that the notification's limit was not determinative of taxability under the Act. On that basis, the receipts were treated as exempt under the principle of mutuality and not assessable as income from other sources. Case-Laws Income Tax Fri, 23 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248417