Dismissing the SLP of the Revenue, the Court held that the order of the High Court affirming the order of the Tribunal holding that the entrance fees paid by a member of the assessee-club constituted a capital receipt. (AY. 2009-10)
PCIT v. Royal Western India Turf Club Ltd. (2023)453 ITR 460 (SC) Editorial: Order in CIT v. Royal Western India Turf Club Ltd(2023) 450 ITR 707 (Bom)(HC), affirmed
S. 4 : Charge of income-tax -Entrance fees paid by Member -Capital receipt. [S. 28(i), Art, 136]