https://www.taxtmi.com/caselaws?id=424879 The Tribunal upheld the validity of reassessment proceedings, ruling that they did not breach natural justice principles. Additionally, the development charges and TDR deposits received by the society were deemed non-taxable under the doctrine of mutuality. The Tribunal also rejected the ad-hoc disallowance of revenue expenses, stating that it was not warranted under the mutuality principle. As a result, the appeals of the assessee were allowed in their entirety. en-us Thu, 07 Jul 2022 00:00:00 +0530 Sun, 10 Jul 2022 20:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424879 The Tribunal upheld the validity of reassessment proceedings, ruling that they did not breach natural justice principles. Additionally, the development charges and TDR deposits received by the society were deemed non-taxable under the doctrine of mutuality. The Tribunal also rejected the ad-hoc disallowance of revenue expenses, stating that it was not warranted under the mutuality principle. As a result, the appeals of the assessee were allowed in their entirety. Case-Laws Income Tax Thu, 07 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424879