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2015 (11) TMI 1890 - AT - Income TaxCharacterization of receipts - Membership contribution received from its new members for life time in lieu of offering effluent disposal facility - AO taxed the entire sum in the impugned assessment year of receipt by following his line of action adopted in assessment year 2001-02, 2004-05 to 2008-09 thereby rejecting assessee’s accounting treatment treating the same as a capital receipt on the ground that it was yet to perform its part of obligation - HELD THAT:- It emanates from the case file that a co-ordinate bench of a tribunal in similar cross appeals [2015 (7) TMI 932 - ITAT AHMEDABAD for assessment year 2008-09 decided on 24-07-2015 remits back the issue of assessment of assessee’s above stated capital receipt contribution back to the assessing authority for reworking as per earlier order in assessment year 2001-02. It further observes that the receipts received during the relevant accounting period are to be spread over for a period of five years instead of assessing the same in one assessment year. The second issue of enhancement stands decided against assessee. We follow suit in these facts and want of distinction being pointed out in the above stated decision. The assessee’s first ground accordingly is remitted back to Assessing Officer. Second substantive ground fail .
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