https://www.taxtmi.com/caselaws?id=30175 The High Court upheld the ITAT's decision, confirming that the entrance fees and commuted value of subscription for life members received by the Assessee are capital receipts and not chargeable to tax under the principle of mutuality. The court found no infirmity in the ITAT's judgment and dismissed the Revenue's appeal. en-us Tue, 18 Mar 2008 00:00:00 +0530 Tue, 12 Aug 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30175 The High Court upheld the ITAT's decision, confirming that the entrance fees and commuted value of subscription for life members received by the Assessee are capital receipts and not chargeable to tax under the principle of mutuality. The court found no infirmity in the ITAT's judgment and dismissed the Revenue's appeal. Case-Laws Income Tax Tue, 18 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30175