https://www.taxtmi.com/caselaws?id=309239 Receipts from entrance fees, owners' entry fees, bookmakers' licence fees and totalisator commissions were treated as arising from an adventure or concern in the nature of trade, because the club admitted non-members, provided facilities for reward, and derived commission from betting-related activities. The character of the activity, not the destination of any surplus, was decisive; use of funds for charity did not affect liability. The club was therefore within the statutory concept of business for these receipts, and excess profits duty would apply if taxable profits were found on account-taking. en-us Mon, 17 Jan 1921 00:00:00 +0530 Sat, 19 Aug 2023 10:27:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309239 Receipts from entrance fees, owners' entry fees, bookmakers' licence fees and totalisator commissions were treated as arising from an adventure or concern in the nature of trade, because the club admitted non-members, provided facilities for reward, and derived commission from betting-related activities. The character of the activity, not the destination of any surplus, was decisive; use of funds for charity did not affect liability. The club was therefore within the statutory concept of business for these receipts, and excess profits duty would apply if taxable profits were found on account-taking. Case-Laws Indian Laws Mon, 17 Jan 1921 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309239