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Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Principle of mutuality - Co-operative Society - Any income ...

Income Tax

August 31, 2015

Principle of mutuality - Co-operative Society - Any income generated from facilities, amenities, privileges provided to the members in accordance with the bye-laws and regulations of the society is exempt on the principle of mutuality - AT

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  1. Mutual benefit society - the transactions with the bank who is not even a member of the society cannot be considered as a transaction for which principles of mutuality will apply.

  2. Principle of mutuality - contribution paid or made by the members to the co-operative society was occasioned by transfer of the flat - amount not chargeable to tax - HC

  3. Principle of mutuality - 'Transfer fee' received from outgoing member of co-operative society - whether is not taxable on the basis of concept of mutuality? - even...

  4. Addition on account of non-occupancy charges - The object of the society was to provide service, amenities and facilities to its members. In these circumstances, the...

  5. Demand of service tax from Cooperative Society - principle of mutuality - Consultancy service - no demand - HC

  6. Principle of mutuality - assessee is a cooperative society engaged in the construction of flats - assessee has failed to satisfy the basis of mutuality on various grounds - AT

  7. Concept of mutuality - Payment of interest / compensation to the members - The very fact that bylaws of the assessee-society contained the provisions that payment of...

  8. Principle or the doctrine of mutuality - Tribunal for the earlier years, has held that even if there are non-permanent members, non-life members, temporary or honorary...

  9. Assessee’s society is covered by the doctrine of mutuality and this amount was not taxable - income received from the members is exempt and the income received from...

  10. Levy of GST - Business or not - Supply or not - common law Principle of Mutuality - Co-operative Housing Society - contribution charges collected by the Appellant from...

 

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