Section 79A Maharashtra Co-operative Societies Act, 1960

Section 79A Maharashtra Co-operative Societies Act, 1960 — the law in short

What the courts have decided on section 79A Maharashtra Co-operative Societies Act, 1960, in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.

• ITO v Venkatesh Premises Co-operative Society Ltd Supreme CourtHelps taxpayer
  The AO has taxed our society's transfer fees and non-occupancy charges. Is that right?
  No. The Supreme Court held that transfer charges, non-occupancy charges, common amenity fund charges and similar receipts collected by a co-operative society from its own members are covered by the principle of mutuality and are not income. On transfer charges the Court held that the amount is appropriated only after the transferee has been admitted to membership and is returned if admission is refused, so by the time it is retained the payer is a member.

Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.