https://www.taxtmi.com/caselaws?id=781272 ITAT MUMBAI - AT held that the appellant, a housing society formed by building occupants, received amounts from incoming occupants as membership contributions for building repair and transfer fees, not as consideration for transfer under section 2(47). Consequently section 50C did not apply to those receipts. The addition under section 50C was held unsustainable and the AO was directed to delete it. The appeal was allowed. en-us Tue, 04 Nov 2025 00:00:00 +0530 Thu, 13 Nov 2025 08:14:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781272 ITAT MUMBAI - AT held that the appellant, a housing society formed by building occupants, received amounts from incoming occupants as membership contributions for building repair and transfer fees, not as consideration for transfer under section 2(47). Consequently section 50C did not apply to those receipts. The addition under section 50C was held unsustainable and the AO was directed to delete it. The appeal was allowed. Case-Laws Income Tax Tue, 04 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781272