JOLLY MAKER 1 PREM CO-OP SOC LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 17(2), MUMBAI

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ITA 2827/MUM/2023Status: DisposedITAT Mumbai12 February 2024AY 2014-15Bench: SHRI NARENDER KUMAR CHOUDHRY (Judicial Member), SHRI AMARJIT SINGH (Accountant Member)13 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal found that the CIT(A) had not properly considered the assessee's submissions and previous judicial pronouncements. Therefore, the issues were restored to the CIT(A) for fresh adjudication.

What were the facts?

The assessee, a cooperative society, had income from house property and interest income related to a property owned by a trust where it was the sole trustee. The Assessing Officer assessed these incomes on a protective basis, deviating from past practice.

What were the issues?

Whether income from house property and interest income should be assessed substantively in the hands of the assessee society, and whether service charges and deduction under Section 80P are allowable.

Which sections of the Income-tax Act were involved?

Section 60,Section 80P,Section 250,Section 143(2),Section 148,Section 57,Section 24

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Cases cited in this judgment(1)Show list

Detected automatically from the text. The count shows how many other judgments on BharatTax rely on the same authority.

  • 396 ITR 274
    396 ITR 274
    4 citing

Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI

Before: SHRI NARENDER KUMAR CHOUDHRY & SHRI AMARJIT SINGH

Hearing: 12.12.2023Pronounced: 12.02.2024

आदेश की �ितिलिप अ�ेिषत/Copy of the Order forwarded to : अपीलाथ� / The Appellant 1. ��थ� / The Respondent. 2. आयकर आयु� / CIT 3. िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण DR, ITAT, 4.

P a g e | 13 to 2828/Mum/2023 Jolly Maker 1 Premises Coop Society Ltd. Vs. ACIT-18(2)

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