https://www.taxtmi.com/caselaws?id=59052 An advance rent deposit received under a long-term sub-lease was held not taxable as revenue income in the assessee's hands. The Tribunal treated the receipt as a liability adjustable against future rent, noting that the assessee consistently reflected it in the balance sheet as such. It also found the factual pattern materially similar to an earlier co-ordinate Bench decision where an equivalent receipt was held non-taxable. The label "advance rent deposit" did not change the character of the receipt, and cases involving true rent or different commercial facts were distinguished on that basis. en-us Fri, 26 Sep 1986 00:00:00 +0530 Thu, 23 Dec 2010 17:04:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59052 An advance rent deposit received under a long-term sub-lease was held not taxable as revenue income in the assessee's hands. The Tribunal treated the receipt as a liability adjustable against future rent, noting that the assessee consistently reflected it in the balance sheet as such. It also found the factual pattern materially similar to an earlier co-ordinate Bench decision where an equivalent receipt was held non-taxable. The label "advance rent deposit" did not change the character of the receipt, and cases involving true rent or different commercial facts were distinguished on that basis. Case-Laws Income Tax Fri, 26 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59052