{"id":13742,"date":"2020-11-14T14:18:58","date_gmt":"2020-11-14T14:18:58","guid":{"rendered":"https:\/\/itatonline.org\/digest\/landbase-india-ltd-v-acit-2020-80-itr-580-delhi-trib-2\/"},"modified":"2021-02-13T10:08:43","modified_gmt":"2021-02-13T04:38:43","slug":"landbase-india-ltd-v-acit-2020-80-itr-580-delhi-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/landbase-india-ltd-v-acit-2020-80-itr-580-delhi-trib-2\/","title":{"rendered":"Landbase India Ltd. v. ACIT (2020) 80 ITR 580  \/ 185 ITD 40\/ 116 taxmann.co 574 ( Delhi) (Trib)"},"content":{"rendered":"<p>Tribunal held that the entrance fee and membership fees received by the assessee should be accounted for as income only when they accrued to the assessee. Merely because the income, which pertained to subsequent years, was received by the assessee in earlier years it did not become the income of the earlier years under section\u00a05\u00a0of the\u00a0Income-tax Act, 1961\u00a0in the case of either business income or under section\u00a028\u00a0. Hence, the membership fee income of the assessee was chargeable to tax in the year to which it pertained. <em>(<\/em> AY.2013-14, 2014-15, 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 5 : Scope of total income \u2013 Accrual &#8211; Membership fees \u2014Mercantile system of accounting -Pertaining to  subsequent years \u2014Taxable in year to which it  pertains. [ S. 28(i) ,145 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13742","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3zE","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13742"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13742\/revisions"}],"predecessor-version":[{"id":15240,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13742\/revisions\/15240"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}