Entrance fee received from members - since the amount was in the ...

Entrance fees from members remain capital receipts even if forfeited, maintaining their original classification.

February 8, 2017

Case Laws Income Tax AT

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

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Entrance fee received from members - since the amount was in the ...

Entrance fees from members remain capital receipts even if forfeited, maintaining their original classification.

February 8, 2017

Case Laws Income Tax AT

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