https://www.taxtmi.com/caselaws?id=58790 The Tribunal held that the consent fee and leave & licence extra levy received by the co-operative housing society are revenue receipts. It upheld the restriction of advertisement-related expenses to 10% of gross receipts and rejected objections regarding interest charges under Sections 215 and 217 of the IT Act. The compensation received for covenanting not to exploit space was deemed includible in the net income. As a result, the Department's appeals were allowed, and the assessee's cross objections were dismissed. en-us Wed, 25 May 1988 00:00:00 +0530 Wed, 22 Dec 2010 12:00:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58790 The Tribunal held that the consent fee and leave & licence extra levy received by the co-operative housing society are revenue receipts. It upheld the restriction of advertisement-related expenses to 10% of gross receipts and rejected objections regarding interest charges under Sections 215 and 217 of the IT Act. The compensation received for covenanting not to exploit space was deemed includible in the net income. As a result, the Department's appeals were allowed, and the assessee's cross objections were dismissed. Case-Laws Income Tax Wed, 25 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58790