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Subhash Sagar Through Legal Heir Jyoti ... vs Assessee cites

P. Krishna Menon vs The Commissioner Of Income-Tax, ... on 7 October, 1958

It was also observed by him that the damages were not exclusively to assessee's property but that of the Society as a whole and, therefore, it was the Society who was to spend money for repairs and renovations under its supervision. The assessee had received the amount by virtue of his special relationship with the Society as member and therefore, the same partook the character of income under the head 'income from other sources'. The Assessing Officer also observed that the Society had not made payments from contributions raised from the members. He referred to the judgment of Hon'ble Supreme Court in the case of P. Krishna Menon vs. CIT (1959)( 35 ITR 48) in which it was held that gift received by a person by virtue of his office is income irrespective of the fact whether the same was voluntary or compulsory. Alternatively the Assessing Officer also observed that the amount received could be considered as gift which had to be taken as income under section 56(2)(vi) as society was not a relative of the assessee. The payment, Assessing Officer further observed could also be considered as dividend and since the Society had not paid the dividend distribution tax the same could not be exempt under section 10(34). The Assessing Officer finally assessed income as 'income from other sources'.
Supreme Court of India Cites 3 - Cited by 115 - A K Sarkar - Full Document

The Commissioner Of Income Tax -19 ... vs M/S. Ashoka Hind Co-Operative Housing ... on 26 November, 2018

7 ITA Nos .4214 to 4217/M/2010 3.2 The assessee disputed the decision of the Assessing Officer and submitted before CIT(A) that the source of payment by the Society was the money received from members as transfer fee, etc. The pre-dominant activity of the assessee was maintenance of the property and therefore, the principle of mutuality would apply unless it was proved that the transaction was tainted with commerciality, trade or business. In this case the amount had been utilized for the maintenance of property damaged due to natural calamities and, therefore, there was no trade/commercial angle. He referred to the judgment of Hon'ble Bombay High Court in the case of CIT vs. Sind Co-operative Housing Society Ltd. (317 ITR 47).
Bombay High Court Cites 1 - Cited by 1 - M S Sanklecha - Full Document
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