https://www.taxtmi.com/caselaws?id=188326 Entrance fees collected on issue of new shares were treated as an accretion to the company's capital structure and not as trading or banking receipts, so the amount was capital in nature and not assessable as income. In the alternative, the receipt did not arise from business operations and was casual and non-recurring, bringing it within the exemption for such receipts. On either footing, the amount was not taxable under the Indian Income-tax Act. en-us Mon, 02 Jul 1962 00:00:00 +0530 Fri, 25 Nov 2016 16:53:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188326 Entrance fees collected on issue of new shares were treated as an accretion to the company's capital structure and not as trading or banking receipts, so the amount was capital in nature and not assessable as income. In the alternative, the receipt did not arise from business operations and was casual and non-recurring, bringing it within the exemption for such receipts. On either footing, the amount was not taxable under the Indian Income-tax Act. Case-Laws Income Tax Mon, 02 Jul 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188326