2011 (1) TMI 1409

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....an, VP:- This is an appeal filed at the instance of the assessee society. Though several grounds were urged before us, the limited issue is with regard to nature of amount received under caption 'contribution to common amenities'; case of the assessee is that it is not taxable, on an application of principles of mutuality, whereas the Assessing Officer as well as learned CIT(A) were of the opin....

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....xable under the Income Tax Act. 3. Learned DR, on the other hand, strongly relied upon the orders passed by the tax authorities. However, he could not place before us any contrary decision to state that the amount received in the form of contribution to common amenities funds should not be equated to the amount received in the form of transfer fees etc. 4. We have carefully considered the ri....