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TMI Blog2012 (7) TMI 1159X X X X Extracts X X X X X X X X Extracts X X X X ..... PER: SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER. This appeal is filed by the assessee against the order of the Ld. CIT (A)-I, Baroda dated 9-12-2009 for the assessment year 2007-08. 2. The only effective ground is regarding the capital contribution received from new Members amounting to Rs.29,89,033/-. 3. Brief facts of the case are that the assessee is a company engaged in the business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith 1/5th of past receipts aggregating to Rs.23,95,209/- as income. The A.O. however following the view taken while framing assessments in Assessment in A.Ys.2001-02 2004-05 to 2006-07 treated the entire contribution received during the year as revenue receipt. 5. Aggrieved by the order of the A.O. the assessee carried the matter in appeal before the Ld. CIT (A). 6. Ld. CIT (A) after consi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the decision of the Co-ordinate Bench D, ITAT Ahmedabad. He filed a copy of co-ordinate Bench order in ITA No.4280/Ahd/2007 dated 15-10-2010. In ITA No.4280/Ahd/2007 for A.Y. 2001-02. On the other hand the Ld. D.R. relied on the order of A.O. 9. We have heard the rival contentions and perused the material on record. We find that in the assessee s own case for A.Y. 2001-02, the coordinate Be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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