2017 (7) TMI 1185 - HC - Income Tax

Transfer fee received from the incoming members of the Housing Society is exempt under the principles of mutuality - Held that - The learned counsel for the Appellant fairly concedes that the issue raised in the present appeal had arisen in Assessee s own case, in the earlier Assessment Year i.e. for the Year 2005-06 and the Appeal filed by the Revenue 2011 (7) TMI 1330 - BOMBAY HIGH COURT

Summary

The High Court of Bombay dismissed the appeal for Assessment Year 2009-10 as the issue had already been decided in the assessee's favor for the earlier Assessment Year 2005-06. No costs were awarded.