Case Law Details
Case Name : ITO Vs. Venkatesh Premises Co-op Society Ltd (Supreme Court of India)
Related Assessment Year :
Courts :
Supreme Court of India
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ITO Vs. Venkatesh Premises Co-op Society Ltd (Supreme Court of India)
A common question of law arises for consideration in this batch of appeals, whether certain receipts by cooperative societies, from its members i.e. non occupancy charges, transfer charges, common amenity fund charges and certain other charges, are exempt from income tax based on the doctrine of mutuality.
The assessing officer held that receipt of non occupancy charges by the society from its members, to the extent that it was beyond 10% of the service charges/ maintenance charges permissible under the notification da...
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very useful article .