https://www.taxtmi.com/caselaws?id=22224 The Tribunal determined that the non-refundable deposits received by the assessee were trading receipts, not capital receipts. The rights retained post-agreement were of minimal value, with the construction activity classified as a business venture. Profits were deemed to accrue in the year of floor area allotment, leading to the deletion of additions for prior years. Additionally, undisclosed income additions were dismissed. In a separate reference, the compensation received was categorized as business income, not income from property. The Tribunal's decisions generally favored the assessee over the Revenue in the various issues raised. en-us Thu, 25 Apr 1991 00:00:00 +0530 Tue, 08 Dec 2009 11:54:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22224 The Tribunal determined that the non-refundable deposits received by the assessee were trading receipts, not capital receipts. The rights retained post-agreement were of minimal value, with the construction activity classified as a business venture. Profits were deemed to accrue in the year of floor area allotment, leading to the deletion of additions for prior years. Additionally, undisclosed income additions were dismissed. In a separate reference, the compensation received was categorized as business income, not income from property. The Tribunal's decisions generally favored the assessee over the Revenue in the various issues raised. Case-Laws Income Tax Thu, 25 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22224