Maintenance charges from corporate members exempt based on principle of mutuality

Park Place Condomonium Association Vs ITO (ITAT Delhi)

ITAT Delhi held that maintenance charges received from corporate members is exempt on principle of mutuality. The said receipt doesn’t become taxable merely because it was subjected to deduction of tax at source.

Facts- The Assessee is a resident welfare association registered as AOP Group Housing Society consisting of 1282 members at Gurgaon. The Assessee society has received interest bearing maintenance security de

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