https://www.taxtmi.com/caselaws?id=773971 The Tribunal considered whether a housing cooperative society's surplus of Rs. 10,18,128 from member transactions qualified for exemption under the Principle of Mutuality. The appellant argued that income from maintenance charges and parking fees paid by members should not be taxable as these constitute mutual dealings. Though this ground was raised for the first time before the Tribunal, it was admitted as a pure legal issue with facts already on record. Rather than deciding the matter, the Tribunal remanded it to the CIT(A) for fresh consideration in light of the SC precedent in Venkatesh Premises Cooperative Society Ltd., directing proper examination of receipts and expenditures vis-`a-vis members. The appeal was partly allowed for statistical purposes. en-us Mon, 16 Jun 2025 00:00:00 +0530 Tue, 01 Jul 2025 08:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773971 The Tribunal considered whether a housing cooperative society's surplus of Rs. 10,18,128 from member transactions qualified for exemption under the Principle of Mutuality. The appellant argued that income from maintenance charges and parking fees paid by members should not be taxable as these constitute mutual dealings. Though this ground was raised for the first time before the Tribunal, it was admitted as a pure legal issue with facts already on record. Rather than deciding the matter, the Tribunal remanded it to the CIT(A) for fresh consideration in light of the SC precedent in Venkatesh Premises Cooperative Society Ltd., directing proper examination of receipts and expenditures vis-`a-vis members. The appeal was partly allowed for statistical purposes. Case-Laws Income Tax Mon, 16 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773971