https://www.taxtmi.com/highlights?id=70644 Nature of receipts - non-refundable security deposits - CIT(Appeals) has rightly concluded non-refundable security deposits received by appellant has nexus with O&M services provided to the clients. However, he failed to appreciate that in the hands of assessee the same were refundable and merely as means to finance O&M services. Thus, the same were not of revenue nature receipts. - Additions deleted - AT en-us Thu, 29 Jun 2023 15:08:07 +0530 Thu, 29 Jun 2023 15:08:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70644 Nature of receipts - non-refundable security deposits - CIT(Appeals) has rightly concluded non-refundable security deposits received by appellant has nexus with O&M services provided to the clients. However, he failed to appreciate that in the hands of assessee the same were refundable and merely as means to finance O&M services. Thus, the same were not of revenue nature receipts. - Additions deleted - AT Highlights Income Tax Thu, 29 Jun 2023 15:08:07 +0530 https://www.taxtmi.com/highlights?id=70644