Ownership flats of members of tenant co-partnership societies - Whether exempt under clause (iv) of sub-section (1)

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....mption under section 5(1)(iv), in the cases of members of co-operative societies of the tenant co-partnership type, on the ground that the legal ownership over the flats vests with the society and not with the individual members. It has been represented to the Board that these societies are usually only lessees of the flats, the legal ownership of which really vests with the individual members. Th....