Transfer Fees received from Members in excess of those provided in by law by a plot society not taxable

Undisputed facts are that the assessee is a plot society and not a flat society. Thus, notification dated 9th August 2001, issued by Govt. of Maharashtra, does not apply to the facts of the case. The first appellate authority had followed the judgment of Hon’ble Jurisdictional High Court in Sind Co. Operative Housing Society, [2009] 26 DTR 149 (Bom.), and granted relief to the assessee. As all the receipts are admittedly from the members, we have to necessarily uphold the order of the first appellate authority and dismiss the appeal of the Revenue. INCOME TAX APPELLATE TRIBUNAL, MUMBAI I...