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2015 (4) TMI 1066 - DELHI HIGH COURT

2015 (4) TMI 1066 - DELHI HIGH COURT - TMI - Concept of capital or revenue receipt for a trust - amount received as development fund by the assessee and directly taken to the balance as liability - Held that:- We are informed that in the succeeding years 2009-10 onwards the revenue has consistently brought to tax similar amounts. In these circumstances we leave the question of law open to be urged later in an appropriate case.

As far as the other issue with respect to claim for deprec .....

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dent :Mr. Prakash Kumar and Mr. Manish Kumar, Advs. O R D E R 1. The questions sought to be urged by the revenue is with regard to the treatment of the sum of ₹66,25,049/- which was deleted pursuant to the concurrent orders of the CIT(Appeals) and the ITAT. It is argued that the amount received as development fund by the assessee and directly taken to the balance as liability was impermissible and that the only method given that it is a chargeable organization receiving the benefit of exem .....

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