https://www.taxtmi.com/caselaws?id=335040 Receipts received by a trade union in direct furtherance of its objects, including settlement of member-related disputes, were not assessable as business or professional income and were treated as exempt under section 10(24) on the principle of mutuality. In relation to the Poiser property transaction, the material showed that development agreements, possession, and related permissions had been completed in an earlier period, so transfer within the meaning of section 2(47) had occurred before assessment year 2004-05. The capital gains were therefore not taxable in that year. en-us Wed, 28 Sep 2016 00:00:00 +0530 Fri, 25 Nov 2016 10:46:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335040 Receipts received by a trade union in direct furtherance of its objects, including settlement of member-related disputes, were not assessable as business or professional income and were treated as exempt under section 10(24) on the principle of mutuality. In relation to the Poiser property transaction, the material showed that development agreements, possession, and related permissions had been completed in an earlier period, so transfer within the meaning of section 2(47) had occurred before assessment year 2004-05. The capital gains were therefore not taxable in that year. Case-Laws Income Tax Wed, 28 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335040