Sind Co-operative Housing Society v. ITO

Cci Chambers Co-Op Hsg Soc. Ltd, Mumbai vs. Income Tax Officer-17(2)(1), Mumbai

In the result, both the appeal

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

…principles of mutuality lity lity which which which has has has been been been duly duly duly accepted accepted accepted by by by the the the jurisdictional High Court in the case of : jurisdictional High Court in the case of :- i. Sind Co-op. Hag. Soc. Ltd. 317 ITR 47 (Bom HC) op. Hag. Soc. Ltd. 317 ITR 47 (Bom HC) ii. Mittal Court Premises Co ii. Mittal Court Premises Co-op. Soc. Ltd. (Bom HC) 320 ITR op. Soc. Ltd. (Bom HC) 320 ITR 414 and consequently erred in assessing the sum as 'Income and consequently erred in assessing the sum as 'Income and consequently erred in assessing the sum as 'Income from Other…

Cci Chambers Co-Op Hsg Soc. Ltd, Mumbai vs. ITO 17(2)(1), Mumbai

In the result, both the appeal

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

…principles of mutuality lity lity which which which has has has been been been duly duly duly accepted accepted accepted by by by the the the jurisdictional High Court in the case of : jurisdictional High Court in the case of :- i. Sind Co-op. Hag. Soc. Ltd. 317 ITR 47 (Bom HC) op. Hag. Soc. Ltd. 317 ITR 47 (Bom HC) ii. Mittal Court Premises Co ii. Mittal Court Premises Co-op. Soc. Ltd. (Bom HC) 320 ITR op. Soc. Ltd. (Bom HC) 320 ITR 414 and consequently erred in assessing the sum as 'Income and consequently erred in assessing the sum as 'Income and consequently erred in assessing the sum as 'Income from Other…

The Suvarna Nagar Co Operative Housing Society Ltd, Mumbai vs. ITO, Ward, 34(3), Mumbai

In the result, the appeal by the assessee is allowed

Bench: Shri Sandeep Singh Karhailshri Girish Agrawalassessment Year : 2019-20

…Act to the assessee in respect of the interest income earned from deposits made with the Co-operative Banks. 9. Further, we find that the decision of the Hon’ble Jurisdictional High Court in Sind Co-op. Hsg. Society v/s Income-tax Officer, reported in [2009] 317 ITR 47 (Bom.), relied upon in the impugned order for denying the deduction under section 80P(2)(c) of the Act, is also not applicable to the facts of the present case as the issue before the Hon’ble Court was whether any part of transfer fees received by the assessee societies - whether from outgoing or incoming members - is not liable to tax on the grou…

The Imperial Condominium, Mumbai vs. Assistant Commissioner of Income Tax, Circle 19(3), Mumbai

In the result, the appeal of the assessee for AYs 2014-15 to 2017-18 are allowed

Bench: Shri Sandeep Gosain, Jm & Ms Padmavathy S, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JM & MS PADMAVATHY S, AM I.T.A. No.4979/Mum/2024 (Assessment Year: 2014-15) I.T.A. No.4980/Mum/2024 (Assessment Year: 2015-16) I.T.A. No.4982/Mum/2024 (Assessment Year: 2016-17) I.T.A. No.4983/Mum/2024 (Assessment Year: 2017-18) The Imperial Condominium ACIT, Circle-19(3), Room No. 206, 2nd Floor, Level 2, FM Office The Imperial Tower, B B Nakashe Marg, Vs. Matru Mandir, Grand Road, Tardeo, Mumbai-400034. Mumbai (Maharashtra-400007. PAN : AADAT4393D Appellant) : Respondent) Appellant /Assessee by : Shri. Vijay Mehta, AR Revenue /…

The Imperial Condominium, Mumbai vs. Assistant Commissioner of Income Tax, Circle 19(3), Mumbai

In the result, the appeal of the assessee for AYs 2014-15 to 2017-18 are allowed

Bench: Shri Sandeep Gosain, Jm & Ms Padmavathy S, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JM & MS PADMAVATHY S, AM I.T.A. No.4979/Mum/2024 (Assessment Year: 2014-15) I.T.A. No.4980/Mum/2024 (Assessment Year: 2015-16) I.T.A. No.4982/Mum/2024 (Assessment Year: 2016-17) I.T.A. No.4983/Mum/2024 (Assessment Year: 2017-18) The Imperial Condominium ACIT, Circle-19(3), Room No. 206, 2nd Floor, Level 2, FM Office The Imperial Tower, B B Nakashe Marg, Vs. Matru Mandir, Grand Road, Tardeo, Mumbai-400034. Mumbai (Maharashtra-400007. PAN : AADAT4393D Appellant) : Respondent) Appellant /Assessee by : Shri. Vijay Mehta, AR Revenue /…

The Imperial Condominium, Mumbai vs. Assistant Commissioner of Income Tax Circle -19(3), Mumbai

In the result, the appeal of the assessee for AYs 2014-15 to 2017-18 are allowed

Bench: Shri Sandeep Gosain, Jm & Ms Padmavathy S, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JM & MS PADMAVATHY S, AM I.T.A. No.4979/Mum/2024 (Assessment Year: 2014-15) I.T.A. No.4980/Mum/2024 (Assessment Year: 2015-16) I.T.A. No.4982/Mum/2024 (Assessment Year: 2016-17) I.T.A. No.4983/Mum/2024 (Assessment Year: 2017-18) The Imperial Condominium ACIT, Circle-19(3), Room No. 206, 2nd Floor, Level 2, FM Office The Imperial Tower, B B Nakashe Marg, Vs. Matru Mandir, Grand Road, Tardeo, Mumbai-400034. Mumbai (Maharashtra-400007. PAN : AADAT4393D Appellant) : Respondent) Appellant /Assessee by : Shri. Vijay Mehta, AR Revenue /…

The Imperial Condominium, Mumbai vs. Assistant Commissioner of Income Tax, Circle 19(3), Mumbai

In the result, the appeal of the assessee for AYs 2014-15 to 2017-18 are allowed

Bench: Shri Sandeep Gosain, Jm & Ms Padmavathy S, Am

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JM & MS PADMAVATHY S, AM I.T.A. No.4979/Mum/2024 (Assessment Year: 2014-15) I.T.A. No.4980/Mum/2024 (Assessment Year: 2015-16) I.T.A. No.4982/Mum/2024 (Assessment Year: 2016-17) I.T.A. No.4983/Mum/2024 (Assessment Year: 2017-18) The Imperial Condominium ACIT, Circle-19(3), Room No. 206, 2nd Floor, Level 2, FM Office The Imperial Tower, B B Nakashe Marg, Vs. Matru Mandir, Grand Road, Tardeo, Mumbai-400034. Mumbai (Maharashtra-400007. PAN : AADAT4393D Appellant) : Respondent) Appellant /Assessee by : Shri. Vijay Mehta, AR Revenue /…

Laxmi Finance & Leasing Companies Commercial Premises Cooperative Society Ltd, Mumbai vs. Asst CIT 14(1), Mumbai

In the result, both the appeals filed by the assessee are partly allowed

Bench: Shri S Rifaur Rahman & Shri Pavan Kumar Gadalem/S. Laxmi Finance & Vs. Acit – 14(1) Leasing Companies, Earnest House, Commercial Premiss Nariman Point, Co-Op Society Ltd., Mumbai – 400 021. Laxmi Towers, Plot No. C-25, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051. Pan/Gir No. : Aaajl0006F Appellant .. Respondent M/S. Laxmi Finance & Vs. Acit – 18(2) Leasing Companies, Earnest House, Commercial Premiss Nariman Point, Co-Op Socitey Ltd., Mumbai – 400 021. Laxmi Towers, Plot No. C-25, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051. Pan/Gir No. : Aaajl0006F Appellant .. Respondent

…e filed a rejoinder to the remand report vide letter dated 03/03/2014 before the ld. CIT(A) stating that the concept of mutuality as stated in the case of M/s. Sind Co- Hon‟ble operative Housing Pvt. Ltd., vs. ITO by the Jurisidictional High Court reported in 317 ITR 47 and the decision of the Hon‟ble Supreme Court in the case of Bangalore club vs. CIT reported in 350 ITR 509 had laid down four questions to be answered:- i) Is there any commerciality involved? ii) From the moneys received are the services offered in nature of profit sharing or privileges or advantages and conveniences? iii) Are the participant…

Asst CIT 18(2), Mumbai vs. Laxmi Finance & Leasing Companies Commerical Premises Co Op Soc. Ltd, Mumbai

In the result, all the appeals of the assessee are partly allowed and all the appeals of the Revenue are dismissed

…ee filed a rejoinder to the remand report vide letter dated 03/03/2014 before the ld. CIT(A) stating that the concept of mutuality as stated in the case of M/s. Sind Co-operative Housing Pvt. Ltd., vs. ITO by the Hon‟ble Jurisidictional High Court reported in 317 ITR 47 and the decision of the Hon‟ble Supreme Court in the case of Bangalore club vs. CIT reported in 350 ITR 509 had laid down four questions to be answered:- i) Is there any commerciality involved? ii) From the moneys received are the services offered in nature of profit sharing or privileges or advantages and conveniences? iii) Are the participants a…

ITO 25(3)(2), Mumbai vs. Presidency Chs, Mumbai

In the result, appeal is allowed

Bench: Shri R.C. Sharmaassessment Year: 2007-08 Income Tax Officer-25(3)(5), M/S. The Presidency Co-Op Room No.609, C-10, 6Th Floor, Hsg. Soc. Ltd., Plot No.A/B, 2Nd Floor, Pratyakshakar Bhavan, Bandra Kurla Complex, Vishnu Prasad Desai Bhavan, Vs. Bandra (East), V.L. Marg, Mumbai-400 051 J.V.P.D. Scheme, Vile Parle (W) Mumbai – 400 056 Pan: Aaaat4479M (Appellant) (Respondent) Assessee By : Shri Shalin S. Divatia, A.R. Revenue By : Shri Ram Tiwari, D.R. Date Of Hearing : 23.11.2017 Date Of Pronouncement : 05.12.2017 O R D E R Per R.C. Sharma: This Is An Appeal Filed By The Revenue Against The Order Of Cit(A) For The Assessment Year 2007-08. 2. The Grievance Of Revenue Relates To Deleting Addition Of Rs.7,64,271/- Made By Ao On Account Of Transfer Fees & Addition Made On Account Of Premium Received By Assessee From Its Members On Utilization Of Transfer Of Development Rights.

…s as a class should contribute to the common fund and participators as a class must be able to participate in the surplus. 5.6 The Hon'ble Bombay High Court in the case of Sindh Co-operative Housing 4 M/s. The Presidency Co-op Hsg. Soc. Ltd. Society vs. ITO 317 ITR 47 (Born) is held that the class of members are clearly identifiable. Members are ordinary members or associate members. The participants and contributors are the members. The members may come in or go out. The fact that only some members from those who contributed may participate in the surplus, as held by the Supreme Court, is irrelevant as long as…

ITO 18(1)(2), Mumbai vs. Loyal Co Operative Housing Society Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

Bench: Shri R.C. Sharma, Am & Shri Ravish Sood, Jm आयकर अपीऱ सुं./I.T.A. No.5413/M/2014 (नििाारण वर्ा / Assessment Year: 2010-2011) फनाभ/ Ito – 18(1)(2), M/S. Loyal Cooperative R.No. 104, 1St Floor, Piramal Housing Society Ltd., Vs. Chamber, Parel, Mumbai- Eden Hall, Dr Annie Besant 400012. Road, Rajni Patel Chowk, Worli, Mumbai – 400 018. स्थामी रेखा सं./ Pan : Aaaat5649M (अऩीराथी /Appellant) .. (प्रत्मथी / Respondent)

…of the authority given by the General Body and were according to Bye-laws of the society. iv) The contribution had not been received from incoming member on the condition of providing membership. i) In the case of Sind Co-op. Housing Society vs. ITO (2009) 317 ITR 47 (Bom.), it was held that "If an amount is received more than what is chargeable under the bye-laws or Government directions, the society is bound to repay the same and if it retains the amount, it will be in the nature of profit making and that specific amount will be exigible to tax". In the case of Mittal Court Premises Co-op. Society Ltd. vs. I…

The Navyug Co Operative Housing Society Ltd, Mumbai vs. ITO 21(1(3), Mumbai

In the result, appeal of the assessee is allowed, as above

Bench: Shri G.S. Pannu & Shri Pawan Singh: (A.Y : 2010-11)

…assessee with respect to an amount of Rs.47,65,000/- representing Transfer fee from incoming members. Before the Assessing Officer, assessee had, inter-alia, relied upon the judgment of the Hon'ble Bombay High Court in the case of Sind Co-op Housing Society, 317 ITR 47 (Bom) and claimed that the impugned sum was exempt on the principles of mutuality. Apart from the judgment of the Hon'ble Bombay High Court, assessee had also relied upon the decision of the Mumbai Bench of the Tribunal in the case of Nutan Laxmi Co-operative Housing Society Ltd. in ITA No. 7203 & 7204/Mum/2013 dated 24.8.2016. The Assessing Offic…

The Nutan Laxmi Chs Ltd, Mumbai vs. ITO WD 21(1)(3), Mumbai

In the result, both the appeals filed by the assessee are allowed as indicated above

Bench: Shri Shailendra Kumar Yadav & Shri Rajesh Kumar.

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “B” BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER, AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER. ITA. No.7203 & 7204/Mum/2013 (Assessment Years: 2009-10 & 2010-11) Nutan Laxmi Co-operative Appellant Housing Society Ltd., Plot No.51, Jaihind Recreation Club, N.S. Road No.11,, JVPD Scheme, Juhu, Mumbai Vs. ITO 19(2)(4) Respondent Ward-21(1)(3), R.N. 605, C-10, 6th Floor, B.K. Complex, Bandra (E), Mumbai. PAN: AAAT 1208J अपीलाथ" क" ओर से/By Appellant : Smt. Aarti Vissanji, & Shri Shavin S. Divatia, A.R. ""यथ" क" ओर से/By Respondent: Shri Chandra Vij…