Gayatri Commercial Premises Co-Op Society Ltd, Mumbai vs. CPC/ITO.22(1)(4), Mumbai
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 114/MUM/2023[2019-20]Status: DisposedITAT Mumbai31 May 2023AY 2019-20
Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.114/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2019-20) Gayatri Commercial Premises बिधम/ Cpc/Ito, 22 (1)(4) Co-Op, Society Ltd. 3Rd Floor, Piramal Chambers Vs. Unit No. 102/103, Behind Lalbaugh Mumbai- 400034 Mittal Ind. Estate Andheri Kurla Andheri (East) Mumbai- 400059 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaaag5064D (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri. N.R. Agarwal Revenue By: Shri. Krishna Kumar, (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 15/03/2023 घोषणा की तारीख /Date Of Pronouncement: 31/05/2023 आदेश/Order Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Cit(A)/Nfac Dated 13-12-2022 For Ay 2019-20 Confirming The Addition Of Rs. 93,20,286/-. 2. The Assessee Society Has Raised The Following Grounds Of Appeal Reads As Under: - “1. The Ld. Cit(A) Erred In Confirming The Addition Of Rs.93,20,286/- As A Business Income In Order Passed U/S 143(1) & 154 Of The Act By Cpc. 2. The Ld. Cit(A) Erred In Not Granting Deduction Under Mutuality Principal.” 3. The Regarding Ground No. 1, The Ld. Cit(A) Has Dismissed The Ground Of Appeal Of The Assessee By Observing As Under: - “The Ld. Cit(A) Has Rejected The Assessees’S The Ground Of Appeal By Observing At Para No. 7 Of The Impugned Order As Under:-
For Appellant: Shri. N.R. AgarwalFor Respondent: Shri. Krishna Kumar, (Sr. AR)
Section 143(1)
…. applicability of mutuality is a question of fact which requires examination of documents like bye laws of assesse premises society details of members, actual usage of funds etc. Hon'ble Bombay High court in case of CIT Vs Bombay oil seeds &oil exchange Ltd. 202 ITR 198 held as under: - “The cardinal principle to apply the test of mutuality is that all the contributors to the common fund must be entitled to participate in the surplus and that all the participators in the surplus must be contributors to the common fund. In other words, there must be complete identity between the contributors and the participators…
