TaxTMI 
TaxTMI 
2015 (4) TMI 472
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....rani ORDER Per: B R Baskaran: These cross appeals are directed against the order dated 30-08- 2010 passed by ld CIT(A)-I, Mumbai and they relate to the assessment year 2007-08. 2. The assessee is aggrieved by the decision of Ld CIT(A) on the following issues:- (a) Addition of Rs. 1,25,000/- relating to Sponsorship contributions (b) Addition of Rs. 11,87,657/- relating to complimentary liquor....
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....ite event) Rs.40,000/- Centurion Bank Ltd (Holi event) Rs.50,000/-. Since the contributors were non-members, the AO took the view that the above said contributions are assessable as the income of the assessee. Accordingly he assessed the above said receipts as income of the assessee and the Ld CIT(A) also confirmed the same. 5. The main submission of Ld A.R was that the above said companies h....
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....te that the assessee has been organizing various events for the mutual benefit of its members. The contributions, if any, received from the members were utilized for conducting the events and the surplus, if any, is accepted as exempt under the principles of mutuality. The above said companies have partly sponsored the events, apparently as a part of their respective sales promotion activities. He....
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.... failed to furnish the details of persons who consumed the complimentary liquor. He also took the view that the complimentary liquor could have been used by non-members also and accordingly assessed the sale value of complimentary liquor as income of the assessee. The Ld CIT(A) also confirmed the same. 8. The Ld A.R submitted that the assessee has sold the complimentary liquors only to its member....