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Apartment Owners’ Association Not Taxable at Maximum Marginal Rate: ITAT Bangalore
Case Law Details
- Case Name
- Ajmera Green Acres Apartment Owners Welfare Association Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2024-25
- Courts
- All ITAT, ITAT Bangalore
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Ajmera Green Acres Apartment Owners Welfare Association Vs ITO (ITAT Bangalore)
Bengaluru ITAT: Apartment Owners’ Welfare Association Not Taxable at Maximum Marginal Rate
The Bengaluru ITAT held that an Apartment Owners’ Welfare Association registered under the Karnataka Societies Registration Act, 1960 cannot be taxed at the maximum marginal rate (MMR) under section 167B merely because the members’ shares were shown as “zero” in the return of income. The Central Processing Centre had processed the return under section 143(1) by applying the maxim...
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