Tag Archives: Income Tax Officer V Venkatesh Premises Co-operative Society Ltd.

Non-occupancy charges etc received by co-operative societies not Taxable : Supreme Court

By | March 26, 2018

Whether certain receipts by co-operative societies, from its members i.e. non-occupancy charges, transfer charges, common amenity fund charges and certain other charges, are exempt from income tax based on the doctrine of mutuality. The challenge is based on the premise that such receipts are in the nature of business income, generating profits and surplus, having… Read More »