Income Tax Appellate Tribunal Mumbai

3rd Sep, 2013

Cooperative Housing Society not entitled to Tax-exempt in transfer fee and TDR premium receipts on the ground of mutuality

Receipt by way of transfer fee and Transfer of development rights (TDR) premium by a Housing Cooperative Society from its members whether can be claimed as tax-exempt on the ground of mutuality or not?
17th Jul, 2013

Purpose for which shares are purchased is insignificant to determine applicability of Section 14A of the Income Tax Act, 1961

Section 14A Income Tax Act, 1961 provides for the assessment of income not forming part of the total income.