Assessee-society owned certain flats, which were constructed on leasehold land-It entered into redevelopment agreement with a developer to redevelop flats and granted rights and entitlements to developer for aforesaid land.Developer agreed to pay Rs. 15 crores to corpus fund of assessee and an amount of Rs. 3.50 crores was paid on execution of agreement.  Assessing Officer held that amount of Rs. 15 crores was just a receipt of non-recurring nature and taxed entire amount under head income from other sources during year under consideration. Dismissing the appeal of the Revenue the Court held that since assessee had not given possession of land to developer during year under consideration amount of Rs. 3.50 crores (real income) only could be taxed for year under consideration.  Followed, CIT v. Raj Ratan Palace Co-Operative Housing Society Ltd, ITA No. 2292 of 2011 dt. 27-2.2013 (Bom)(HC))   (AY. 2011-12)