https://www.taxtmi.com/caselaws?id=352388 Transfer fees received from members and contributions linked to exploitation of transferable development rights in a co-operative housing society were treated as exempt under the doctrine of mutuality because the receipts came from members in their capacity as members, the common fund benefited only the member class, and contributors and participators were identical. The Tribunal found no element of commerciality in the society's activities and applied jurisdictional precedent to conclude that mutuality covered these receipts. The Assessing Officer's additions were therefore unsustainable and the Revenue's challenge failed. en-us Tue, 05 Dec 2017 00:00:00 +0530 Wed, 13 Dec 2017 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352388 Transfer fees received from members and contributions linked to exploitation of transferable development rights in a co-operative housing society were treated as exempt under the doctrine of mutuality because the receipts came from members in their capacity as members, the common fund benefited only the member class, and contributors and participators were identical. The Tribunal found no element of commerciality in the society's activities and applied jurisdictional precedent to conclude that mutuality covered these receipts. The Assessing Officer's additions were therefore unsustainable and the Revenue's challenge failed. Case-Laws Income Tax Tue, 05 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352388