The Tribunal held that the refundable security deposit received from members of the assessee was a capital receipt and could not be charged to tax as income. ( AY.2013-14, 2014-15, 2016-17)
Landbase India Ltd. v. ACIT (2020) 80 ITR 580 / 185 ITD 40/ 116 taxmann.co 574 ( Delhi) (Trib)
S. 4 : Charge of income-tax – Refundable Security deposit — Capital receipt cannot be assessed as income [ S.28(i)]