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INCOME TAXES (Schedule of income tax expense) (Details) (USD $)
12 Months Ended
Jul. 31, 2013
Jul. 31, 2012
Jul. 31, 2011
Current:      
Federal $ 30,642 $ 362,463 $ 68,845
State and City 202,358 291,537 205,155
Deferred taxes      
Federal 267,000 408,000 198,000
State and City 18,000 469,000   
Income tax provision $ 518,000 $ 1,531,000 $ 472,000