Case Law Details
Case Name : Lands End Co-operative Housing Society Limited Vs ITO (ITAT Mumbai)
Appeal Number : I.T.A. No. 3566/Mum/2014
Date of Judgement/Order : 15/01/2016
Related Assessment Year : 2009-2010
Courts :
All ITAT ITAT Mumbai
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CA.V.Vivek Rajan
Brief– ITAT Mumbai held in the case of In the case of Lands End Co-operative Housing Society Limited vs ITO, that receipt of transfer fees, Non-occupancy charges and car parking charges are covered by the principle of mutuality. It Further held that deduction u/s 80P (2)(d) is available to Co-operative Housing Society on interest on FD with other co-operative banks.
Brief Facts of the Case
Receipt of Transfer Fees
a. The assessee, a co-operative society was formed to look after the maintenance of flats owned by its members.
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