Walkeshwar Triveni Co-Operative ... vs Income Tax Officer on 4 July, 2003
The contribution was held not to be voluntary but under compulsion as decided in the case of Hatkesh Co-operative Housing Society Ltd. v. ITO (supra).
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1 - 6 of 6 (0.60 seconds)Walkeshwar Triveni Co-Op. Hsg. Soc. ... vs Income Tax Officer, Ward 7(7) on 4 July, 2003
The contribution was held not to be voluntary but under compulsion as decided in the case of Hatkesh Co-operative Housing Society Ltd. v. ITO, 60 ITD 662 (Mum).
Ito 21(3)(1), Mumbai vs Raheja Altantis Cooperative Housing ... on 21 March, 2023
The AO has relied on the decision of the Hon'ble ITAT in the case of
Hatkesh Co-operative Housing Society Vs ITO(1997)50 ITD 662(Mumbai)
wherein it is held that transfer fees received by a co-operative society by an
outgoing member are taxable receipts and the concept of mutually does not
apply.
Oval Shiv-Shanti Bhuvan Co-Operative ... vs Income-Tax Officer on 16 June, 2000
16. On consideration of various aspects, in our considered opinion, the situation in this case is not such as may be perceived to be falling in the ambit of the principle of mutuality. The contribution made in this case can by no means be said to be voluntary or with a view to reap advantages of contribution at a later date. Contribution is made under compulsion, as rightly stated in the decision of the Tribunal in the case of Hatkesh Cooperative Housing Society Ltd. (supra), with a view only to remove the clog put by society on the absolute ownership of the transferor. Hon'ble Bombay High Court have held that by such bye-laws the society created a source of income in its favour. Contribution to this income pool of the society is not by the members of the society in general but only by those few members who opt to transfer their proprietary rights in favour of third party. The benefit is to be reaped by the members who continue their membership. In our opinion, much cannot be made of the fact that at the point of time the contribution was made by the transferor he was still a member of the society. The stark fact is that the contribution is made on the eve of cessation to be a member.
Madhuvana House Building Co-Operative ... vs Assistant Commissioner Of Income Tax on 31 December, 2001
(12) Hatkesh Co-op. Housing Society Ltd. v. ITO (1996) 60 ITD 662 (Mumbai).
Madhuvana House Building Co-Operative ... vs Asstt Cit on 31 December, 2001
(12) Hatkesh Co-op. Housing Society Ltd. v. ITO (1996) 60 ITD 662 (Mumbai).
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