NDLI: Income Tax Officer, Mumbai Vs. Venkatesh Premises Cooperative Society Ltd.

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Income Tax Act 1961
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Income Tax Act, 1961 (43 of 1961)
Case(s) Referred	Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Case Disposed Off
Headnote	Income Tax Act, 1961:Exemption from income tax – Of certain receipts by Co-operative Societies from its members i.e. non-occupancy charges,transfer charges, common amenity fund charges etc., on the basisof doctrine of mutuality – Stand by Revenue that such receipts arein the nature of business income, generating profits and surplus,having an element of commerciality and therefore exigible to tax –Held: Doctrine of mutuality is premised on the theory that a personcannot make a profit from himself – The essence of the principlelies in the commonality of the contributors and the participants whoare also beneficiaries – There has to be complete identity betweenthe contributors and the participants – Any surplus in the commonfund shall not constitute income but will only be an increase in thecommon fund meant to meet sudden eventualities – The receipts inthe present cases have been used for mutual benefit towardsmaintenance of the premises, repairs, infrastructure and provisionof common amenities and hence will fall within purview of mutuality– Doctrine of Mutuality.Receipts by Housing Society, to the extent they were beyondthe limits specified in the Government Notification dated 09.08.2001issued u/s. 79-A of Maharashtra Co-operative Societies Act –Exigibility to tax – Held: The Notification is applicable only to co-operative housing societies and not to a premises society whichconsists of non-residential premises – Hence, the receipts in thepresent case fall within purview of doctrine of mutuality andtherefore, not exigible to tax – Maharashtra Co-operative SocietiesAct, 1960 – s. 79-A.
Judge	Hon'ble Mr. Justice Navin Sinha
Neutral Citation	2018 INSC 232
Petitioner	Income Tax Officer, Mumbai
Respondent	Venkatesh Premises Cooperative Society Ltd.
SCR	[2018] 3 S.C.R. 214
Judgement Date	2018-03-12
Case Number	2706

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Income Tax Officer, Mumbai Vs. Venkatesh Premises Cooperative Society Ltd.

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