TMI BlogEntrance fee received from members - since the amount was in the nature of deposits, i.e., capital...Entrance fee received from members - since the amount was in the nature of deposits, i.e., capital receipts, in the hands of the assessee, the forfeiture of the same cannot change the nature of receipt, therefore, it is capital receipt - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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