Browsing Tag

cooperative housing society

13 posts
Housing Societies Can Claim Tax Relief on Interest Only from These Banks – Mumbai ITAT restores case of Chembur society and directs fresh verification as per Supreme Court judgment.

Housing Societies Can Claim Tax Relief on Interest Only from These Banks

Housing Societies Can Claim Tax Relief on Interest Only from These Banks – Mumbai ITAT restores case of Chembur society and directs fresh verification as per Supreme Court judgment.
In a major relief to housing societies, ITAT Mumbai has ruled that a Goregaon co-op society need not pay ₹11.38 crore tax on a 2015 redevelopment agreement that never materialised. The Tribunal held that notional stamp duty value does not constitute real income for the society.

Society Told to Pay ₹11.38 Crore as Income from Redevelopment

In a major relief to housing societies, ITAT Mumbai has ruled that a Goregaon co-op society need not pay ₹11.38 crore tax on a 2015 redevelopment agreement that never materialised. The Tribunal held that notional stamp duty value does not constitute real income for the society.
Bombay High Court allows IL&FS Financial Services to proceed with ₹203.66 crore summary suit against principal borrower Serveall Constructions despite IBC moratoriums

HDIL Sold Non-Existent Flats, Society Denies Membership, Court Says Society Is Right

In a major victory for housing societies, the Bombay High Court has upheld the decision of Dheeraj Dreams CHS Ltd. to deny membership to buyers who purchased “flats” that never existed. HDIL had sold mandatory refuge areas as residential flats years after the developer lost rights over the property. The Court ruled that societies cannot be forced to admit members for non-existent flats as it would violate the law.
In a ruling that empowers dissenting flat owners, Bombay High Court refuses to appoint arbitrator against a Mulund resident who never signed the redevelopment deal — builders can't force private arbitration if you say no from day one.

No Signature, No Private Court Hassle: Landmark Win for Society Members Opposing Redevelopment

In a ruling that empowers dissenting flat owners, Bombay High Court refuses to appoint arbitrator against a Mulund resident who never signed the redevelopment deal — builders can’t force private arbitration if you say no from day one.
In a key ruling reinforcing finality in MOFA proceedings, the Bombay High Court has cancelled the 2023 deemed conveyance granted to Magnum Tower CHS over a large portion of land in Lokhandwala Complex, holding that the claim was barred by res judicata following a 2017 rejection on similar grounds. The decision protects row house societies' long-standing possession and exclusive garden rights.

High Court Sides with Lokhandwala Row House Societies, Cancels Magnum Tower’s Land Conveyance

In a key ruling reinforcing finality in MOFA proceedings, the Bombay High Court has cancelled the 2023 deemed conveyance granted to Magnum Tower CHS over a large portion of land in Lokhandwala Complex, holding that the claim was barred by res judicata following a 2017 rejection on similar grounds. The decision protects row house societies’ long-standing possession and exclusive garden rights.