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2014 (7) TMI 425 - AT - Income TaxAllowability of 50% of service charges – Held that:- CIT(A) rightly of the view that the appellant is allowed 50% of service charges as expenditure incurred for earning the income - the 50% service charges is allowed as expenditure incurred for earning the income - Revenue could not bring any law or decision of any higher court contrary to the view taken by the Tribunal in the own case of the assessee – there was no infirmity in the order of the CIT(A) while allowing the claim of the assessee at the rate of 50% of the service charges following the decision of the Tribunal – Decided against Revenue. Transfer fees and repairs and maintenance fund received from buyers – Held that:- As decided in assessee’s own case for the earlier assessment year, it has been held that, the assessee has received transfer fees from the incoming member of the society i.e. the buyer of the flats - payment made by the buyer is in the nature of transfer fees which is received on becoming the member of the society, hence as per principle of mutuality any receipt from member to society is not taxable - the transfer fees is accepted only on admission of the member to society - transfer fees are not taxable - CIT(A) has allowed the claim of the assessee - revenue could not bring before us any contrary law to the decision – Decided against Revenue.
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