|CORAM:||Rajendra (AM), Ram Lal Negi (JM)|
|CATCH WORDS:||mutuality, Mutuality - TDR Premium|
|DATE:||March 9, 2016 (Date of pronouncement)|
|DATE:||March 29, 2016 (Date of publication)|
|FILE:||Click here to download the file in pdf format|
|Mutuality - TDR Premium|
The learned CIT(A) relied on ITAT order for A.Y. 2006-07 (ITA No. 499/M/2011) & A.Y. 2007-08 (ITA No. 500/M/2011) and held that TDR Premium received by Society from its members was not covered by principle of Mutuality.
The Tribunal for A.Y. 2008-09 reversed the order of Learned CIT(A) and held that TDR premium will be covered by the principle of mutuality. Hence, ITAT order for A.Y. 2006-07 (ITA No. 499/M/2011) and A.Y. 2007-08 (ITA No. 500/M/2011) in case of Hatkesh Co-op. Hsg. Society is no longer good law.