Chandra Poojari, Accountant Member. - The appeals by different assessees and cross appeals by the Revenue are directed against the separate orders of the CIT(A)-I, Hyderabad.

2. First we will take up the assessees' appeals in ITA Nos. 208 to 211/Hyd./2011 and Revenue appeals 328 to 331/Hyd./2011 wherein the issue involved are inter-related.

3. Brief facts of the case are that Mr. K. Srinivasa Rao and remaining three co-owners referred to above had specified shares in immovable property land admeasuring 11 acres 33 guntas vide Sy. No. 1, 2, 3, 9(P), 10(P), 11, 12, 13, 14 in Pokkalwada Village, Ranga Reddy District, Hyderabad which was the subject-matter of the Development Agreement. The extent of owner share in land as enumerated in the table given below: