https://www.taxtmi.com/caselaws?id=356972 Receipts collected by cooperative societies from members, including non-occupancy charges, transfer charges and common amenity fund contributions, are treated as non-taxable where they satisfy mutuality: the contributors and beneficiaries are the same, and the amounts are applied for the common benefit of members. Charges retained only after membership is granted, or returned if admission does not occur, are also described as remaining within the mutual framework. The Maharashtra Section 79A notification was said to apply to cooperative housing societies, not premises societies, and a regulatory ceiling on charges does not by itself create taxable income for receipts otherwise covered by mutuality. en-us Mon, 12 Mar 2018 00:00:00 +0530 Mon, 14 May 2018 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356972 Receipts collected by cooperative societies from members, including non-occupancy charges, transfer charges and common amenity fund contributions, are treated as non-taxable where they satisfy mutuality: the contributors and beneficiaries are the same, and the amounts are applied for the common benefit of members. Charges retained only after membership is granted, or returned if admission does not occur, are also described as remaining within the mutual framework. The Maharashtra Section 79A notification was said to apply to cooperative housing societies, not premises societies, and a regulatory ceiling on charges does not by itself create taxable income for receipts otherwise covered by mutuality. Case-Laws Income Tax Mon, 12 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356972