Nature of receipts - non-refundable security deposits - ...

Case Laws Income Tax

June 29, 2023

Nature of receipts - non-refundable security deposits - CIT(Appeals) has rightly concluded non-refundable security deposits received by appellant has nexus with O&M services provided to the clients. However, he failed to appreciate that in the hands of assessee the same were refundable and merely as means to finance O&M services. Thus, the same were not of revenue nature receipts. - Additions deleted - AT

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Nature of receipts - non-refundable security deposits - ...

Case Laws Income Tax

June 29, 2023

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