Jaybharat Cooperative Housing Society Limited, Mumbai v. Income Tax Officer, 15(2)(4), Mumbai & Another
High Court
13 Jul 2011 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
Jaybharat Cooperative Housing Society Limited, Mumbai v. Income Tax Officer, 15(2)(4), Mumbai & Another
Date of order
13 Jul 2011
Assessment year(s)
—
Outcome
Allowed
Case summary
In Jaybharat Cooperative Housing Society Limited, Mumbai v. Income Tax Officer, 15(2)(4), Mumbai & Another, the High Court (2011) allowed the appeal. The decision went in favour of the assessee.
Issue: Admit on the following substantial question of law. "Whether on the facts and in the circumstances of the case, the income ofRs.27,25,835/- is exempt in the hands of the Appellant ?" 3.Counsel for the parties state that the above question is answered in favour of the assessee and against the Revenue...
Decision: 4.Accordingly, the appeal is allowed by answering the question in favour of the assessee and against the Revenue.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.4329 OF 2010
Jaybharat Cooperative Housing Society Limited, Mumbai..Appellant.
Versus
Income Tax Officer, 15(2)(4), Mumbai & Another
..Respondent.
Mr.S.J. Mehta for the appellant.Mr.Ravindra Lokhande for the respondent.
CORAM : J.P. Devadhar & A.A. Sayed, JJ.
P.C. :
DATE : 29[th] July, 2011.
1.By consent, order dated 13th July 2011 is recalled.
2.Heard. Admit on the following substantial question of law.
"Whether on the facts and in the circumstances of the case, the income ofRs.27,25,835/- is exempt in the hands of the Appellant ?"
3.Counsel for the parties state that the above question is answered in favour of the assessee and against the Revenue by the decision of this Court in the case of Sind Co-operative Housing Society V/s. Income-tax Officer reported in (2009) 317 ITR 47 (Bom).
4.Accordingly, the appeal is allowed by answering the question in favour of the assessee and against the Revenue.
(A.A. Sayed, J.)(J.P. Devadhar, J.)
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