IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1972 OF 2009 Su Prabhat Co-operative Housing Society Ltd. ... Appellant. V/s. Income Tax Officer. ... Respondent. S.J.Mehta for the appellant. P.S.Sahadevan for the respondent. CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 1st October 2009. P.C. : Heard learned counsel for the appellant and learned counsel for the respondent. By consent of parties appeal is taken up for final hearing at the state of admission itself. Perused appeal. 2. Appeal is admitted on the following substantial questions of law: (1)Whether on the facts and circumstances of the case the appellate Tribunal was right in coming to the conclusion that the principle of mutuality does not apply to various amounts received by the appellant? (2) Whether on the facts and circumstances of the case, the sum of Rs.7,44,000/- received from its members is liable to be taxed as income of the appellant? (3) Whether on the facts and circumstances of the case, the sum of Rs.20,695/- received as interest is liable to be taxed as income of the appellant? 3. So far as question Nos. 4 and 5 are concerned, leaned counsel for the appellant does not press these questions. 5. Both parties agree that the aforesaid three questions are covered by the judgment of the judgment of Division Bench of this Court dated 17th July, 2009 in Income Tax Appeal No. 931/2004 (Sind Co-op. Hsg. Society v. Income Tax Officer) reported in (2009) 26 DTR (Bom.) 149. Accordingly, all the three questions are answered in favour of the assessee and against the revenue. Appeal is disposed of in terms of this order with no order as to costs. (J.P.DEVADHAR, J.) (V.C.DAGA J.)