Prasad Kadam (Student) (43 Points)23 December 2016
(SEO Sai Gr. Hosp.)
Replied 23 December 2016
On the basis of the decision of the Bombay Tribunal in the case of Lohtse Co-operative Housing Society Ltd vs Seventh Income-tax Officer reported at 51-ITD-608, the said corpus fund received by you is in the nature of capital receipt, & hence NOT TAXABLE.