https://www.taxtmi.com/caselaws?id=366172 The High Court upheld the Tribunal's decision, confirming that security deposits collected by the club were capital receipts and not taxable income. The court distinguished the deposits as refundable after 25 years, maintaining their character as loans rather than revenue. The Revenue's appeal was dismissed, affirming the CIT(A)'s order to treat the deposits as capital receipts. en-us Mon, 27 Aug 2018 00:00:00 +0530 Thu, 30 Aug 2018 08:04:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366172 The High Court upheld the Tribunal's decision, confirming that security deposits collected by the club were capital receipts and not taxable income. The court distinguished the deposits as refundable after 25 years, maintaining their character as loans rather than revenue. The Revenue's appeal was dismissed, affirming the CIT(A)'s order to treat the deposits as capital receipts. Case-Laws Income Tax Mon, 27 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366172