https://www.taxtmi.com/caselaws?id=428655 The Tribunal allowed the appeal of the assessee, holding that the amounts received from members towards the Surety Guarantee Fund were not chargeable to tax. The principle of mutuality and consistency in treating such receipts as capital receipts were pivotal in this decision. The validity of re-assessment was not addressed as the appeal was granted based on the merits related to the SGF addition. en-us Mon, 23 May 2022 00:00:00 +0530 Fri, 07 Oct 2022 00:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428655 The Tribunal allowed the appeal of the assessee, holding that the amounts received from members towards the Surety Guarantee Fund were not chargeable to tax. The principle of mutuality and consistency in treating such receipts as capital receipts were pivotal in this decision. The validity of re-assessment was not addressed as the appeal was granted based on the merits related to the SGF addition. Case-Laws Income Tax Mon, 23 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428655