https://www.taxtmi.com/caselaws?id=55747 The Tribunal upheld the taxability of the membership fee received by an Association of Persons (AOP) for the assessment year 1976-77. The Tribunal ruled that the membership fee did not qualify for exemption based on the principle of mutuality as the surplus did not go back to the contributors in the same capacity. Despite the association not engaging in business activities with its members, the receipts were considered taxable under the residuary clause 'income from other sources'. The appeal was dismissed, affirming the taxability of the membership fee under the broad scope of 'income' unless specifically exempted by law. en-us Thu, 20 Aug 1981 00:00:00 +0530 Mon, 29 Nov 2010 17:47:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55747 The Tribunal upheld the taxability of the membership fee received by an Association of Persons (AOP) for the assessment year 1976-77. The Tribunal ruled that the membership fee did not qualify for exemption based on the principle of mutuality as the surplus did not go back to the contributors in the same capacity. Despite the association not engaging in business activities with its members, the receipts were considered taxable under the residuary clause 'income from other sources'. The appeal was dismissed, affirming the taxability of the membership fee under the broad scope of 'income' unless specifically exempted by law. Case-Laws Income Tax Thu, 20 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55747