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 13. With   this   background,   if   we   revert   to   the   case   on  hand,   undisputed   facts   are   that   all   assessees   are  cooperative   housing   societies.   They   own   lands   for  residential use. Such lands are developed by the society by  providing   common   amenities   such   as   internal   roads,  drainage,   street   lights   if   need   be,   common   plot   and   club  house.   Individual   plots   are   allotted   to   its   members   who  enjoy occupational right, but ownership of the land always  remains with the society.  On the plots of land so allotted,  the member would be allowed to construct his residential  unit.  Upon  transfer  of  the  plot   by a member,  the  society  would collect 50% of the excess or popularly referred to as  'premium'. The fund so collected would be appropriated in  the common  fund of the  society  to be utilised  as per the  bye­laws which envisage development of common facilities  and   expenditure   for   common   amenities.   A   part   of   the  surplus   would   be   diverted   to   the   reserve   fund   of   the  society.   Surplus   could   also   be   utilised   for   waiver   of   the  lease   amount   or   for   the   health,   education   and   social  activities of the members. It can thus be seen that there is  total   identity   of   contributors   of   the   fund   and   recipients  from the fund. The contribution  comes from the outgoing  member in the form of a portion of the premium and it is  utilised   for   the   common   facilities   and   amenities   for   the  members  of  the  society.  Different  modes  of application  of  the funds make it clear that the funds would be expended  for   common   amenities   or   for   general   benefit   of   the  members;  or  be  distributed   amongst  the  members  in  the  form of dividend or lease rent waiver. It can thus be seen  that   it   is   impossible   for   the   contributors   to   derive   profit  from contribution made by themselves to a fund since such  fund could only be expended or returned to them. Creation  of   the   society   was   primarily   for   the   convenience   of   the  members   to   create   a   housing   society   where   individual  members   could   construct   their   residential   units   and  common facilities and amenities could be provided by the  society.   It   was   essential   thus   that   a  combined   activity   is  carried   on   by   a   group   of   persons   who   would   be   the  members in the cooperative society. All the tests referred to  in   the   Privy   Council   decision   in   case   of  The   English   &  Scottish   Joint   Cooperative   Wholesale   Society   Ltd. (supra), stand fulfilled.