https://www.taxtmi.com/caselaws?id=180994 The ITAT Mumbai ruled in favor of the assessee society, holding that the amount received as a contribution to common amenities fund is non-taxable under the Income Tax Act due to the principles of mutuality. The tribunal found that since the funds were utilized for the common members' benefit, they fell within the scope of mutuality, exempting them from taxation. The appeal filed by the assessee was allowed, and the impugned amount was deemed exempt from tax. en-us Mon, 10 Jan 2011 00:00:00 +0530 Tue, 05 Apr 2016 16:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180994 The ITAT Mumbai ruled in favor of the assessee society, holding that the amount received as a contribution to common amenities fund is non-taxable under the Income Tax Act due to the principles of mutuality. The tribunal found that since the funds were utilized for the common members' benefit, they fell within the scope of mutuality, exempting them from taxation. The appeal filed by the assessee was allowed, and the impugned amount was deemed exempt from tax. Case-Laws Income Tax Mon, 10 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180994