Home › Tax Laws › Alankar Sakhari Griha Rachana Sanstha Maryadit v. Atul Mahadev Bhagat (Bom)(HC),www.itatonline.org Editorial: Observation regarding the taxability in the hands of the Society is not good law in view of judgment of Apex Court in ITO v. Venkatesh Premises Co-Operative Society Ltd ( 2018) 402 ITR 670 (SC)

Alankar Sakhari Griha Rachana Sanstha Maryadit v. Atul Mahadev Bhagat (Bom)(HC),www.itatonline.org Editorial: Observation regarding the taxability in the hands of the Society is not good law in view of judgment of Apex Court in ITO v. Venkatesh Premises Co-Operative Society Ltd ( 2018) 402 ITR 670 (SC)

Co-operative Housing Society -A co-operative housing Society is not expected to indulge into profiteering business from its members. Transfer fees cannot be charged under the pretext of “voluntary donation”.-Amount which is accepted above permissible limits towards transfer fee is illegal and taxable as income in the hands of the society- Amount collected was directed to be returned with simple interest @ 8%.

A co-operative housing Society is not expected to indulge into profiteering business from its members. Transfer fees cannot be charged under the pretext of “voluntary donation”. Amount which is accepted above permissible limits towards transfer fee is illegal and taxable as income in the hands of the society .Amount collected was directed to be returned with simple interest @ 8%. ( WP No. 4457 of 2014, dt. 31.08.2018) 

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