Case Law Details
Armed Forces Officers Co-operative Housing Society Ltd. Vs ITO (ITAT Hyderabad)
A perusal of the assessee’s identical pleadings in all these six appeals fails to pin point any factual distinction qua the interest issue in these assessment years before us. We therefore adopt judicial consistency and partly confirm both the lower authorities’ action disallowing the assessee’s mutuality claim on interest on investments made in nationalised banks. The other issue of mutuality relief pertaining to transfer fee stands accepted in view of the foregoing detailed reasoning adopted mutatis mutandis
FULL TEXT OF THE ORDER OF ITAT HYDERABAD
These six assessee’s appeals arise from the CIT(A)-7, Hyderabad’s separate orders dated 12-10-2016 for AYs.2009-10 to 2012-13, dated 29-11-2016 for AY.2013-14 & dated 13-11-2017 for AY.2014-15 passed in case Nos.909/CIT(A)-7/2014-15, 910/CIT(A)-7/2014-15, 912/CIT(A)-7/2014-15, 913/CIT(A)-7/2014-15, 261/CIT(A)-7/2015-16, 0163/CIT(A)-7/2016-17; respectively, in proceedings u/s.143(3) of the Income Tax Act, 1961 [in short, ‘the Act’].
Heard both the parties. Case files perused.
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