https://www.taxtmi.com/caselaws?id=776784 ITAT DELHI-AT held that the one-time life membership fee is a capital/endowment receipt apportioned over 40 years as consistently accounted by the assessee, and rejected the revenue's recharacterisation of the entire sum as current revenue. Applying SC precedent on timing differences, the Tribunal found no real tax loss and treated the dispute as timing only. AO was directed to exclude the impugned amount when computing application of income for charitable purposes and exemption under section 11. en-us Wed, 13 Aug 2025 00:00:00 +0530 Tue, 19 Aug 2025 08:38:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776784 ITAT DELHI-AT held that the one-time life membership fee is a capital/endowment receipt apportioned over 40 years as consistently accounted by the assessee, and rejected the revenue's recharacterisation of the entire sum as current revenue. Applying SC precedent on timing differences, the Tribunal found no real tax loss and treated the dispute as timing only. AO was directed to exclude the impugned amount when computing application of income for charitable purposes and exemption under section 11. Case-Laws Income Tax Wed, 13 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776784