https://www.taxtmi.com/caselaws?id=395328 The Tribunal allowed the assessee's appeals for Assessment Years 2013-14, 2014-15, and 2016-17. It held that the golf course qualifies as 'plant and machinery,' allowing depreciation at 15%. Additionally, it ruled that membership fees should be taxed when they accrue, not when received, and refundable security deposits are capital receipts not taxable as income. The Tribunal directed the Assessing Officer to grant depreciation on the golf course and delete the additions of security deposits and membership fees for all relevant assessment years. en-us Thu, 14 May 2020 00:00:00 +0530 Fri, 21 Aug 2020 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395328 The Tribunal allowed the assessee's appeals for Assessment Years 2013-14, 2014-15, and 2016-17. It held that the golf course qualifies as 'plant and machinery,' allowing depreciation at 15%. Additionally, it ruled that membership fees should be taxed when they accrue, not when received, and refundable security deposits are capital receipts not taxable as income. The Tribunal directed the Assessing Officer to grant depreciation on the golf course and delete the additions of security deposits and membership fees for all relevant assessment years. Case-Laws Income Tax Thu, 14 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395328