CIT v. Common Effluent Treatment Plant (Thane Belapur) Association

Prabodhan Goregaon, Mumbai vs. CIT (A) - 1, Mumbai

In the result, the appeal is allowed for statistical purposes

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2010-11 Prabhodhangoregaon Ito(E)-Ii(1) Prabhodhan Mumbai. Vs. Kridabhavan Marg, Siddharth Nagar, Goregaon (W), Mumbai-400014. Pan No. Aaatp4398J Appellant Respondent Assessee By : Shri N.M. Porwal, Ar Revenue By: Shri Rajat Mittal, Dr Date Of Hearing : 29/05/2017 Date Of Pronouncement : 24/08/2017

…e as the same is not covered under the principals of mutuality. He relied on the decision in the case of Rajpath Club Ltd. 17 ITD 192, Bangalore Club vs. CIT350 ITR 509 and CIT vs. Common Effluent Treatment Plant (Theme-Belapur) Association reported at (2010) 328 ITR 362 (Bom.). In view of the above, the AO brought to tax interest income of Rs.24,37,386/- and income from non-members of Rs.1,42,530/-. 4. Aggrieved by the order of the AO, the assessee filed an appeal before the Ld. CIT(A). We find that in the statement of facts filed before the CIT(A), the assessee-trust has stated that (i) it is registered as a pu…

ITO 3(1)(1), Mumbai vs. The Air Cargo Agents Associates of India, Mumbai

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 Income Tax Act Offier-3(1)(1) M/S. The Air Cargo Agencies Aayakar Bhavan, M.K. Road Association Of India बनाम/ Mumbai 40002 28, Nariman Bhavan Vs. Nariman Point Mumbai 400021 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aaact1460A

…ccepted the case of the assessee in section 143(3) proceedings for all the earlier assessment years. He also placed reliance upon the decision of the Hon'ble Bombay High Court in the case of CIT vs. Common Effluent Treatment Plant, (Thane-Belapur) Association 328 ITR 362 wherein on identical circumstances the Hon'ble jurisdictional High Court held that merely because the assessee utilised the surplus funds for investment in fixed deposit in the bank, etc. it will not lose its identity as mutual benefit society; while investing the funds with a bank or a financial institution, the assessee assumes the character of…

ITO 23(2)(3), Mumbai vs. Indira Rashtriya Kamgar Sahakari Society Ltd, Mumbai

In the result, the appeal of Revenue is dismissed

Bench: Shri Shailendra Kumar Yadav & Shri Rajesh Kumar.

…of the purview of Section 80P(2)(i)(a) of the Act and taxed the same as ITA No.3253/Mum/14 A.Y. 10-11 [ITO vs. Indira Rashtriya Kamgar Sahakari Society Ltd.] Page 4 assessee’s income. The cases of CIT vs. Common Affluent Treatment Plant (Thane Belapur) (2010) 328 ITR 362 and Bangalore Club vs. CIT (Civil Appeal No.124 of 2007) relied upon by Assessing Officer are based on principle of mutuality and in both these cases assesses are not co-operative societies. So, the ratio of the same is not applicable to the facts of the case. Taking all these facts and circumstances of the case, CIT(A) was justified in holding t…

The Bombay Presidency Golf Club Ltd, Mumbai vs. ITO (E) 1(1), Mumbai

In the result, appeal of the assessee is allowed

…As per AO, the said income received by the assessee is not in the nature of mutuality and is from non members. In view of the decision of the Hon’ble Bombay High Court in the case of CIT V/s. Common Effluent Treatment Plant (Thane Belapur) Association (2010) 328 ITR 362, the interest so received from the non members was held to be taxable and there is no application of principle of mutuality for such earnings. Following the decision of jurisdictional High Court, the said interest incomes was brought to tax by the AO. The AO took up the assessment and was of the view that the assessee was not an entity set up for…