https://www.taxtmi.com/caselaws?id=277453 Receipts of a mutual trade association were treated as taxable under section 10(6) only where they represented remuneration for specific, additional services distinct from the association's ordinary mutual functions. Amounts collected for authorised assistants were characterised as payments for the privilege of recognition and admission, not fees for any definite service rendered to members. Fees for enlisting companies in the official quotation list were likewise treated as part of the association's ordinary mutual activity in facilitating share dealings, rather than a separate special service. On that basis, the stated receipts were held not to form part of assessable income. en-us Fri, 06 Jan 1956 00:00:00 +0530 Tue, 04 Dec 2018 17:01:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277453 Receipts of a mutual trade association were treated as taxable under section 10(6) only where they represented remuneration for specific, additional services distinct from the association's ordinary mutual functions. Amounts collected for authorised assistants were characterised as payments for the privilege of recognition and admission, not fees for any definite service rendered to members. Fees for enlisting companies in the official quotation list were likewise treated as part of the association's ordinary mutual activity in facilitating share dealings, rather than a separate special service. On that basis, the stated receipts were held not to form part of assessable income. Case-Laws Income Tax Fri, 06 Jan 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277453