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2016 (6) TMI 1046 - HC - Income TaxPrinciple of mutuality - 'Transfer fee' received from outgoing member of co-operative society - whether is not taxable on the basis of concept of mutuality? - it was contended that, the amounts credited to the common amenity fund was payable prior to the transfer of the premium to the society, thus covered by the principle of mutuality - Held that:- Though the revenue seeks to contend that contribution to Common Amenity Fund is transfer fees and the Assessing Officer in his order added the amount to the respondent-assessee's income on the ground that it is contribution received from members towards Common Amenity Fund, to our mind, the issue stands concluded in favour of the respondent-assessee and against the revenue by the decision of this Court in Darbhanga Mansion CHS Ltd [2014 (12) TMI 1112 - BOMBAY HIGH COURT ]
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