| COURT: | ITAT Mumbai |
| CORAM: | Rajendra (AM), Ram Lal Negi (JM) |
| SECTION(S): | 4 |
| GENRE: | Domestic Tax |
| CATCH WORDS: | mutuality, Mutuality - TDR Premium |
| COUNSEL: | Rahul Hakani |
| DATE: | March 9, 2016 (Date of pronouncement) |
| DATE: | March 29, 2016 (Date of publication) |
| AY: | 2008-09 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| 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.
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