https://www.taxtmi.com/caselaws?id=56261 The Tribunal ruled in favor of the cooperative society, holding that the receipts from members for lease allotment and the 50% excess received on lease transfers were not taxable. The society's activities were found to be mutual in nature, aligning with the principle of mutuality, and the receipts were considered reimbursements for development expenses rather than income. The Tribunal emphasized the non-profit motive of the society and its focus on providing housing sites to members, ultimately exempting the society from tax liability on these transactions. en-us Sat, 04 Jul 1981 00:00:00 +0530 Thu, 02 Dec 2010 17:09:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56261 The Tribunal ruled in favor of the cooperative society, holding that the receipts from members for lease allotment and the 50% excess received on lease transfers were not taxable. The society's activities were found to be mutual in nature, aligning with the principle of mutuality, and the receipts were considered reimbursements for development expenses rather than income. The Tribunal emphasized the non-profit motive of the society and its focus on providing housing sites to members, ultimately exempting the society from tax liability on these transactions. Case-Laws Income Tax Sat, 04 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56261