CIT v. Maruti Employees Cooperative House Building Society Ltd.

320 ITR 254High Court2010#14054 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2025.

Sections most often in play

Section 56 Section 57 Section 57(iii)Section 80P Section 80P(2)(a)(i)

Judgments citing CIT v. Maruti Employees Cooperative House Building Society Ltd.

NAUTILUS PREMISE OWNERS ASSOCIATION,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(2)(2), VADODARA

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 2146/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad02 Sept 2025AY 2017-18

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Shri Manish J Shah & Shri Rushin Patel, ARsFor Respondent: Shri Rajenkumar M Vasavda, Sr. DR

Section 56Section 57

…t income. The doctrine of mutuality cannot be stretched to cover incorne earned Mm non-mutual sources like interest or rent. Judicial Precedents: 1. The appellant has relied on the case of CIT v. Maruti Employees Cooperative House Building Society Ltd. (2010) 320 ITR 254 (P&H) to argue that the expenses should be allowed. However, this reliance is misplaced. In the Maruti case, the expenses incurred were directly related to the maintenance of members' houses, and the income earned was derived Mm the members' contributions. The mutuality principle applied because the income was entirely internal and derived from t…

SOHAMNAGAR CO-OPERATIVE HOUSING SOCIETY LTD. VIBHAG II,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-3(3)(6), AHMEDABAD

In the result appeal filed by the assessee in ITA No

ITA 177/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad30 Jul 2024AY 2017-18

Bench: Income Tax Appellate Tribunal, Ahmedabad Bench, Ahmedabad , Which Has Arisen From The Appellate Order Dated 17-01-2023 In Din & Order No. Itba/Nfac/S/250/2022-23/1048850676(1)

For Appellant: Shri Mohit Balani, A.RFor Respondent: Smt. Trupti Patel, Sr. D.R

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 234Section 250Section 37Section 56Section 57

…d to bear the maintenance cost of the society under different heads. The assessee has also relied upon judgment and order of Hon’ble Punjab and Haryana High Court in the case of CIT v. Maruti Employees Co-Operative Housing Society Building Society Ltd. (2010) 320 ITR 254(P&H) , and the judgment and order of Hon’ble Karnataka High Court in the case of Totgars Co-Operative Sale Society Ltd. v. ITO (2015) 58 taxmann.com 35(Kar.), and it was submitted that the assessee is eligible for deduction u/s. 57 of the Act against the interest on deposit etc. received by the assessee. Thus, it was submitted that the assessee i…

HYDE PARK (A) CO OPERATIVE HOUSING SOCIETY LIMITED ,PUNE vs. INCOME TAX OFFICER , WARD 5 (4) ,PUNE, PUNE

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 262/PUN/2020[2016-2017`]Status: DisposedITAT Pune17 Aug 2021

Bench: Shri Inturi Rama Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita No.262/Pun/2020 िनधा"रण वष" / Assessment Year : 2016-17 Hyde Park (A) Cooperative Housing Society Limited, Society Office Hyde Park (A) Cooperative Housing Society Ltd., Market Yard Road, Market Yard, Pune-411037. .......अपीलाथ" / Appellant Pan : Aaajh0371F बनाम / V/S. Ito, Ward-5(4), ……""यथ" / Respondent Pune. Assessee By : Shri Sanket M. Joshi Shri Sudeep Chhallani Revenue By : Shri S. P. Walimbe सुनवाई क" तारीख / Date Of Hearing : 16.08.2021 घोषणा क" तारीख / Date Of Pronouncement : 17.08.2021 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals)- 4, Pune (‘Cit(A)’ For Short) Dated 24.09.2019 For The Assessment Year 2016-17. 2. Briefly, The Facts Of The Case Are As Under :- The Appellant Is A Cooperative Society Formed Under The Maharashtra Cooperative Societies Act, 1960. It Is Formed With The Object Of Maintaining The Housing Society. The Return Of Income For The Assessment Year 2016-17 Was Filed On 07.09.2016 Declaring Total Income Of Rs.Nil. Against The Said Return Of Income, The Assessment Was Completed By The Income Tax Officer, Ward- 5(4), Pune (‘The Assessing Officer’) Vide Order Dated 22.12.2018 Passed

For Appellant: Shri Sanket M. JoshiFor Respondent: Shri S. P. Walimbe

Section 143(3)Section 80P(2)(d)

…iety should be set off against the income earned in the form of interest of fixed deposits and income tax refund following the decision of the Hon’ble Punjab & Haryana High Court in the case of CIT vs. Maruti Employees Cooperative House Building Society Ltd., 320 ITR 254 (P&H) and also placed reliance on the decisions of the Co-ordinate Bench of the Tribunal in the case of (i) M/s. Marvel Vivacity Condominium vs. ITO (ITA No.1373/PUN/2018 order dated 27.03.2019), (ii) Nivedita Garden Condominium vs. ITO (ITA No.1210/PUN/2019 order dated 07.10.2019), (iii) Maharashtra Police Mega City Co-operative Housing Society…

MAHARASHTRA POLICE MEGA CITY CO.OP HSG, SOC, LTD,,PUNE vs. INCOME-TAX OFFICER, WARD - 7 (2),, PUNE

In the result, the appeal of assessee is allowed

ITA 1390/PUN/2019[2014-15]Status: DisposedITAT Pune21 Jan 2020AY 2014-15

Bench: Shri Anil Chaturvediआयकर अपीऱ सं. / Ita No.1390/Pun/2019 नििाारण वषा / Assessment Year : 2014-15

For Appellant: Mr Tanmay Milind PhadkeFor Respondent: Shri Bharat Deoraj Shegaonkar DCIT (DR)

Section 143(3)Section 57

…d cannot be assessed as ‘Income from other sources’. He therefore, submitted that addition made by Assessing Officer is not called for. He further relied on the decisions in the case of CIT Vs. Maruti Employees Co- Operative House Building Society Ltd. (2010) 320 ITR 254 (P&H), M/s. Marvel Vivacity Condominium Vs. ITO in ITA No.1373/PUN/2018, for A.Y. 2013-14, order dated 27.03.2019 and in the case of Nivedita Garden Condominium Vs. ITO in ITA No.1210/PUN/2019, for A.Y. 2016-17, order dated 07.10.2019. He therefore, submitted that the claim of assessee be allowed. 6. The ld. DR on the other hand supported the or…

NIVEDITA GARDEN CONDOMINIUM,,PUNE vs. INCOME-TAX OFFICER, WARD - 14 (3),, PUNE

In the result, appeal of assessee is allowed

ITA 1210/PUN/2019[2016-17]Status: DisposedITAT Pune07 Oct 2019AY 2016-17

For Appellant: Shri C. H. NaniwadekarFor Respondent: Shri Pravin Chavan

Section 143(3)

…al issue came up before the Tribunal in the case of M/s. Marvel Vivacity Condominium (supra) and the Tribunal, following the judgement of the Hon’ble Punjab & Haryana High Court in the case of CIT vs. Maruti Employees Co-Operative House Building Society Ltd., 320 ITR 254 (P&H), decided the issue in favour of the assessee. Thus, the interest income is to be adjusted against the expenditure incurred by the assessee during the year and the same is not separately assessable in the hands of the assessee. Considering the above facts and following the rule of judicial discipline, I am of the opinion that the issue raise…

M/S. MARVEL VIVACITY CONDOMINIUM,,PUNE vs. INCOME-TAX OFFICER, WARD - 7(2),, PUNE

In the result, appeal of assessee is allowed

ITA 1373/PUN/2018[2013-14]Status: DisposedITAT Pune27 Mar 2019AY 2013-14

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1373/Pun/2018 यििाारण वषा / Assessment Year : 2013-14 M/S. Marvel Vivacity Condominium, Shah Khandelwal Jain & Associates, Level 3, Riverside Business Bay, Plot No.84, Wellesley Road, अऩीऱाथी/Appellant Near Rto, Pune – 411001 …. Pan: Aabam1517C Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Wad 7(2), Pune

For Appellant: Shri Nilesh KhandelwalFor Respondent: Shri M.K. Verma

Section 143(3)

…orized Representative for the assessee pointed out that the issue raised in the present appeal is squarely covered by the ratio laid down by the Hon’ble High Court of Punjab & Haryana in CIT Vs. Maruti Employees Co-Operative House Building Society Ltd. (2010) 320 ITR 254 (P&H), which is also case of housing society, wherein the Hon’ble High Court had decided the issue in favour of assessee. 8. The learned Departmental Representative for the Revenue on the other hand, placed reliance on the order of CIT(A) and the order of Hon’ble Bombay High Court in CIT Vs. Common Effluent Treatment Plant (Thane Belapur) Associ…

ORBIS FOUNDATION,GURGAON vs. ITO, WARD- 3(1), GURGAON

In the result, the appeal filed by the assessee is partly allowed

ITA 2637/DEL/2018[2013-14]Status: DisposedITAT Delhi14 Aug 2018AY 2013-14

Bench: Shri N.K. Billaiya & Shri K.N. Chary[Assessment Year: 2013-14] M/S Orbis Foundation Vs. The I.T.O 402, Beverly Park I Ward -3(1) M.G. Road, Dlf City Gurgaon Gurgaon, Haryana Pan : Aaato 2965 N [Appellant] [Respondent] Date Of Hearing : 13.08.2018 Date Of Pronouncement : 14.08.2018

For Appellant: Shri Hiren Mehta, CAFor Respondent: Shri Ravi Kant Gupta, Sr. DR

Section 12ASection 57

…n the judgment of the Hon'ble Supreme Court in the case of ACG Associated Capsules [P] Ltd 343 ITR 89. Reliance was also placed on the judgment of the Hon'ble Punjab and Haryana High Court in the case of Maruti Employees Cooperative House Building Society Ltd.320 ITR 254. 8. Per contra, the ld. DR strongly supported the findings of the AO. It is the say of the ld. DR that there is no nexus between the interest expenditure and earning of interest on FD and, therefore, the same cannot be allowed u/s 57(iii) of the Act. 9. We have given thoughtful consideration to the orders of the authorities below. There is no di…