Amount received towards the development fund - Taxing land ...

Transfer Fees and Development Fund Not Taxable for Society; No Commercial Activities Involved per Mutuality Principle.

November 27, 2015

Case Laws Income Tax AT

Amount received towards the development fund - Taxing land premium on transfer in excess - the principle of mutuality was applicable to the assessee which had as its predominant activity, the maintenance of the property of the society which included its buildings) and as long as there was no taint of commerciality, trade or business, the receipt of transfer fees was not liable to tax - AT

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Amount received towards the development fund - Taxing land ...

Transfer Fees and Development Fund Not Taxable for Society; No Commercial Activities Involved per Mutuality Principle.

November 27, 2015

Case Laws Income Tax AT

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