Undisclosed income - Deferred income - Club membership - ...

Income Tax

September 23, 2013

Undisclosed income - Deferred income - Club membership - taxability of 60% or 100% of receipt - revenue model adopted by the assessee is based on hypothesis and not on facts - the revenue model of treating the entire membership fee collection as income of the year of collection proposed by the Assessing Officer is more justified - But in view of SOT [2010 (5) TMI 524 - ITAT, CHENNAI] - Decided in favour of assessee. - AT

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Undisclosed income - Deferred income - Club membership - ...

Income Tax

September 23, 2013

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