https://www.taxtmi.com/caselaws?id=264789 The Tribunal allowed the appeals, overturning the disallowance of a non-refundable deposit as appellant income. Relying on precedents including Supreme Court and High Court judgments, the Tribunal held that such deposits were not taxable trading receipts. Citing relevant cases, the Tribunal concluded that the deposit in question did not constitute revenue receipts, deleting the addition confirmed by the CIT(A) and ruling in favor of the assessee. The decision emphasized consistency with previous rulings and clarified the treatment of non-refundable deposits in relation to tax liability. en-us Tue, 14 Oct 2014 00:00:00 +0530 Sat, 03 Oct 2015 09:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264789 The Tribunal allowed the appeals, overturning the disallowance of a non-refundable deposit as appellant income. Relying on precedents including Supreme Court and High Court judgments, the Tribunal held that such deposits were not taxable trading receipts. Citing relevant cases, the Tribunal concluded that the deposit in question did not constitute revenue receipts, deleting the addition confirmed by the CIT(A) and ruling in favor of the assessee. The decision emphasized consistency with previous rulings and clarified the treatment of non-refundable deposits in relation to tax liability. Case-Laws Income Tax Tue, 14 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264789