Labels associated with social images are valuable source of information for tasks of image annotation, understanding and retrieval. These labels are often found to be noisy, mainly due to the collaborative tagging activities of users. Existing methods on annotation have been developed and verified on noise free labels of images. In this paper, we propose a novel and generic framework that exploits the collective knowledge embedded in noisy label co-occurrence pairs to derive robust annotations. We compare our method with a well-known image annotation algorithm and show its superiority in terms of annotation accuracy on benchmark Corel5K and ESP datasets in presence of noisy labels.