https://www.taxtmi.com/caselaws?id=176715 The Tribunal upheld the CIT(A)'s decision in both issues, emphasizing the application of the principle of mutuality in determining the taxability of receipts by cooperative housing societies. The judgments cited established that under this principle, receipts like transfer charges and non-occupancy charges cannot be taxed, as one cannot make a profit out of oneself. The Tribunal dismissed the revenue's appeal, affirming that the principle of mutuality prevails over other laws regulating the relationship between members and their association. en-us Fri, 16 Sep 2011 00:00:00 +0530 Mon, 25 Sep 2017 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176715 The Tribunal upheld the CIT(A)'s decision in both issues, emphasizing the application of the principle of mutuality in determining the taxability of receipts by cooperative housing societies. The judgments cited established that under this principle, receipts like transfer charges and non-occupancy charges cannot be taxed, as one cannot make a profit out of oneself. The Tribunal dismissed the revenue's appeal, affirming that the principle of mutuality prevails over other laws regulating the relationship between members and their association. Case-Laws Income Tax Fri, 16 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176715