https://www.taxtmi.com/caselaws?id=176856 Receipts of a co-operative housing society from its members, including transfer fee and TDR premium, were analysed under the mutuality principle. The governing tests were applied: the contributors and beneficiaries belonged to the same class, the receipts were used for members' common benefit, the society's activity remained non-commercial, and any surplus was available within the mutual structure. On that basis, the receipts were treated as not taxable income, and the amounts could not be brought to tax merely because they exceeded a figure relied on by the Assessing Officer. en-us Fri, 22 Oct 2010 00:00:00 +0530 Wed, 30 Dec 2015 12:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176856 Receipts of a co-operative housing society from its members, including transfer fee and TDR premium, were analysed under the mutuality principle. The governing tests were applied: the contributors and beneficiaries belonged to the same class, the receipts were used for members' common benefit, the society's activity remained non-commercial, and any surplus was available within the mutual structure. On that basis, the receipts were treated as not taxable income, and the amounts could not be brought to tax merely because they exceeded a figure relied on by the Assessing Officer. Case-Laws Income Tax Fri, 22 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176856