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 download the file in pdf format |
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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