https://www.taxtmi.com/caselaws?id=179403 Receipts collected by a co-operative housing society from its own members as transfer fees and voluntary contributions for common amenities were treated as mutual receipts and not taxable income. The relevant test was whether the amounts arose from dealings among identifiable members within a mutual arrangement, with no commerciality or profit motive, and the society's activities remained confined to maintenance and member amenities under its bye-laws. Applying the binding jurisdictional precedent, the earlier contrary view was distinguished because mutuality had not been fully considered there. The addition was deleted and the receipts were held exempt under the principle of mutuality. en-us Fri, 21 Sep 2012 00:00:00 +0530 Mon, 29 Feb 2016 13:08:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179403 Receipts collected by a co-operative housing society from its own members as transfer fees and voluntary contributions for common amenities were treated as mutual receipts and not taxable income. The relevant test was whether the amounts arose from dealings among identifiable members within a mutual arrangement, with no commerciality or profit motive, and the society's activities remained confined to maintenance and member amenities under its bye-laws. Applying the binding jurisdictional precedent, the earlier contrary view was distinguished because mutuality had not been fully considered there. The addition was deleted and the receipts were held exempt under the principle of mutuality. Case-Laws Income Tax Fri, 21 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179403