https://www.taxtmi.com/caselaws?id=57351 The Tribunal upheld the taxability of deposits as revenue receipts, considering them non-refundable profits from business activities. The transactions were deemed an adventure in the nature of trade, with a profit motive evident. Consultancy fees for plot development were disallowed as the main objective was profit from land disposal. Claim under Section 35D was rejected as the company's primary aim was not hotel business. The Tribunal's decision was based on lease agreement analysis, transaction sequence, and company objectives, ultimately dismissing the appeal. en-us Mon, 31 May 1982 00:00:00 +0530 Thu, 09 Dec 2010 17:15:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57351 The Tribunal upheld the taxability of deposits as revenue receipts, considering them non-refundable profits from business activities. The transactions were deemed an adventure in the nature of trade, with a profit motive evident. Consultancy fees for plot development were disallowed as the main objective was profit from land disposal. Claim under Section 35D was rejected as the company's primary aim was not hotel business. The Tribunal's decision was based on lease agreement analysis, transaction sequence, and company objectives, ultimately dismissing the appeal. Case-Laws Income Tax Mon, 31 May 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57351