TMI Blog2013 (12) TMI 1302X X X X Extracts X X X X X X X X Extracts X X X X ..... benefit - Any amount surplus to that needed to pursue the common purpose is said to be simply an increase of the common fund and as such neither considered income nor taxable - The issue was restored for adjudication. - I.T.A. No. 2999/M/2012, C.O. No. 100/M/2013 - - - Dated:- 20-12-2013 - Shri D. Karunakara Rao And Shri Sanjay Garg,JJ. For the Petitioner : Shri F. V. Irani For the Respondent : Shri M. Rajan, DR ORDER Per D. Karunakara Rao, AM: There is one appeal and one Cross Objection under consideration. Appeal ITA No.2999/M/2012 is filed by the Revenue and CO No.100/M/2013 is filed by the assessee against the order of CIT (A)-9, Mumbai dated 6.2.2012 for the assessment year 2009-2010. Since, the common issues a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal and read out the relevant para 4 from the said Tribunal s order (supra). 4. On the other hand, Ld DR dutifully relied on the orders of the Revenue Authorities. 5. We have heard both the parties and perused the orders of the Revenue Authorities as well as the cited order of the Tribunal in assessee s own case (supra) dated 3.4.2013. On perusal of the said Tribunal s order, we find that para 4 is relevant is relevant in this regard and the same reads as under: 4. We have heard the arguments of both the sides and also perused the relevant material available on record. It is observed that all the three issues raised in this appeal of the Revenue are squarely covered in favour of the assessee by the orders of the Tribunal for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iled by the Revenue is accordingly dismissed. 6. Considering the above, we are of the opinion that all the three issues raised by Revenue i.e., (i) share transfer fees received by the assessee company, on transfer of flats; (ii) nominee occupancy charges and (iii) non-refundability of security deposits are squarely covered, in favour of the assessee, by the said order of the Tribunal (supra) dated 3.4.2013. It is also evident that similar issues have been consistently decided by the Tribunal in favour of the assessee. Considering the settled nature of the issues involved in the grounds raised by Revenue, we are of the opinion that they should be decided in favour of the assessee. Accordingly, grounds raised by the Revenue are dismissed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... During the proceedings before the first appellate authority, after considering the submissions of the assessee, CIT (A) dismissed the appeal of the assessee by following the earlier AY s order of the CIT (A) and the order of the ITAT for the AY 2007-2008. Aggrieved with the above decision of the CIT (A), assessee raised the ground no.2. 10. During the proceedings before us, Ld Counsel reiterated the submissions made before the lower authorities. In this regard, he relied on the judgment of the Hon ble Supreme Court in the case of Bangalore Club v. Commissioner of Income-tax, 350 ITR 509 and prayed for remanding the matter to the files of the AO to adjudicate the issue afresh. 11. On the other hand, Ld DR relied on the orders of the Reve ..... X X X X Extracts X X X X X X X X Extracts X X X X
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