https://www.taxtmi.com/caselaws?id=256769 The High Court of Bombay upheld the Income Tax Appellate Tribunal's decision that transfer fees and non-occupancy charges received by a Cooperative Housing Society are not taxable under the principle of mutuality for Assessment Year 2003-04. The Court found that the respondent did not exceed the limits set by State Government Circulars, and without concrete evidence of excess amounts, the Tribunal correctly applied the principle of mutuality. As no significant legal question arose, the Revenue's appeal was dismissed without costs. en-us Mon, 02 Feb 2015 00:00:00 +0530 Sat, 21 Feb 2015 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256769 The High Court of Bombay upheld the Income Tax Appellate Tribunal's decision that transfer fees and non-occupancy charges received by a Cooperative Housing Society are not taxable under the principle of mutuality for Assessment Year 2003-04. The Court found that the respondent did not exceed the limits set by State Government Circulars, and without concrete evidence of excess amounts, the Tribunal correctly applied the principle of mutuality. As no significant legal question arose, the Revenue's appeal was dismissed without costs. Case-Laws Income Tax Mon, 02 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256769