https://www.taxtmi.com/caselaws?id=57976 The Tribunal determined that the amount of Rs. 30,12,520 received by the assessee was a deposit intended for adjusting yearly rent, not an additional price for the property. It was held that the amount did not constitute a revenue receipt but a deposit to be offset against rent. The Tribunal also ruled that the addition of Rs. 28,00,000 to the assessee's income by the Income-tax Officer was unjustified, as the amount was deemed a deposit for rent adjustment, not an extra property price. Consequently, the appeal was allowed, and the Rs. 28,00,000 addition was removed. en-us Thu, 16 Jul 1987 00:00:00 +0530 Wed, 15 Dec 2010 16:47:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57976 The Tribunal determined that the amount of Rs. 30,12,520 received by the assessee was a deposit intended for adjusting yearly rent, not an additional price for the property. It was held that the amount did not constitute a revenue receipt but a deposit to be offset against rent. The Tribunal also ruled that the addition of Rs. 28,00,000 to the assessee's income by the Income-tax Officer was unjustified, as the amount was deemed a deposit for rent adjustment, not an extra property price. Consequently, the appeal was allowed, and the Rs. 28,00,000 addition was removed. Case-Laws Income Tax Thu, 16 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57976