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2012 (9) TMI 35 - AT - Income TaxCo-operative Housing society - rental income from allowing the use of terrace area for placing the communication towers by telecommunication companies - Income from house property vs Income from other sources - Held that:- Letting out of the terrace erection of antenna and income derived from letting out has to be taxed as “income from house property” and not as “income from other sources’ and accordingly deduction to be provided u/s 24 - Decided in favor of assessee Taxability of Transfer Charges and Repair Fund received from members - assessee contended that as per bye laws, there was an agreement by which the charges was paid by the transferee and it was in the nature of admission fee which could be appropriated, only on the transferee being admitted - contribution to common amenity fund/repairs and welfare fund being the first contribution made by the existing/new member was not taxable - reliance placed on Mittal Court Premises Chs. Ltd (2009 (7) TMI 689 - BOMBAY HIGH COURT) - Held that:- Applicability of principle enumerated in aforesaid judgment to the facts of the case depends upon the comparison of bye-laws of both the societies. As this aspect has not been looked into, we want to remit back the matter to the file of the A.O. Taxability of income from sale of scrap, garage rent and car parking - assessee contended non-taxability on ground of Principles of mutuality - Held that:- Amount in question is covered by principles of mutuality. If amount is used for the benefit of the members of the Society, it is entitled to have benefit of principle of ‘mutuality’ - Decided in favor of assessee
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