{"id":59212,"date":"2026-04-07T10:52:25","date_gmt":"2026-04-07T05:22:25","guid":{"rendered":"https:\/\/itatonline.org\/digest\/chennai-corporate-club-p-ltd-v-acit-2025-305-taxman-433-madhc\/"},"modified":"2026-04-07T10:52:25","modified_gmt":"2026-04-07T05:22:25","slug":"chennai-corporate-club-p-ltd-v-acit-2025-305-taxman-433-madhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/chennai-corporate-club-p-ltd-v-acit-2025-305-taxman-433-madhc\/","title":{"rendered":"Chennai Corporate Club (P) Ltd. v. ACIT (2025) 305 Taxman 433 (Mad)(HC)."},"content":{"rendered":"<p>Assessee-company was engaged in club activities.It collected life membership fee from those who wanted to become its members-Assessee claimed that one time non-transferable and non-refundable sum paid by a member to acquire rights of club was a capital receipt.Assessing Officer treated said amount as revenue receipt.Tribunal confirmed order of Assessing Officer. On appeal the Court held that \u00a0any sum paid by a member to acquire rights of club is a capital receipt, therefore, one time life membership fee received by assessee-club was to be treated as capital receipt and not taxable as income.(AY. 2001-02 to 2005-06)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax-Non-refundable one time life membership fee received by club from members-Capital receipt.[S.28(i)] <\/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-59212","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fp2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59212","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=59212"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59212\/revisions"}],"predecessor-version":[{"id":59213,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59212\/revisions\/59213"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}