Principle of mutuality applicable when there is complete identity between the contributors and the participators

 RELEVANT PARAGRAPH 7. We have the rival submissions and perused the records. During the year under consideration the assessee society had claimed as exempt a sum or Rs. 10.00 Lakhs received on account of damages for wrongful proceedings against the society taken up before the Deputy Registrar of Co-operative Housing Society. Mr. Manojkumar Goswami & Mrs. Shashi Goswami were allottees of plot Nos. 47 & 48 in the society. The two lesses along with M/s. Oberoi Construction Ltd. tried to amalgamate the flat and redevelop the same. However, the same being outside the Rules of the society,...