ACIT v. Karnavati Club Ltd.

4 ITR 174Reported decision#7903 most cited

What is ACIT v. Karnavati Club Ltd. authority for?

Entrance fees received by a club from members are considered capital receipts, not revenue receipts.

14

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2022 to 2022.

Also referred to as

ACIT v. Karnavati Club Ltd. · entrance fees · capital receipts · revenue receipts · members · ITAT · Bombay High Court · W.I.A.A. Club Ltd.

Judgments citing ACIT v. Karnavati Club Ltd.

Poona Club Ltd, Pune vs. Deputy Commissioner of Income-Tax, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 892/PUN/2017[2008-09]Status: DisposedITAT Pune20 Apr 2022AY 2008-09

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Poona Club Ltd, Pune vs. Deputy Commissioner of Income-Tax, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 891/PUN/2017[2007-08]Status: DisposedITAT Pune20 Apr 2022AY 2007-08

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Poona Club Ltd, Pune vs. Deputy Commissioner of Income-Tax, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 890/PUN/2017[2006-07]Status: DisposedITAT Pune20 Apr 2022AY 2006-07

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Assistant Commissioner of Income-Tax, Circle - 4, Pune vs. M/S. Poona Club Ltd, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 1939/PUN/2017[2013-14]Status: DisposedITAT Pune20 Apr 2022AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Assistant Commissioner of Income Tax, Pune vs. M/S. Poona Club Ltd., Pune

In the result, the appeal filed by the Revenue in ITA

ITA 1238/PUN/2017[2012-13]Status: DisposedITAT Pune20 Apr 2022AY 2012-13

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Assistant Commissioner of Income Tax, Pune vs. M/S. Poona Club Ltd., Pune

In the result, the appeal filed by the Revenue in ITA

ITA 1237/PUN/2017[2011-12]Status: DisposedITAT Pune20 Apr 2022AY 2011-12

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Assistant Commissioner of Income Tax, Pune vs. M/S. Poona Club Ltd., Pune

In the result, the appeal filed by the Revenue in ITA

ITA 1235/PUN/2017[2008-09]Status: DisposedITAT Pune20 Apr 2022AY 2008-09

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Poona Club Ltd, Pune vs. Deputy Commissioner of Income-Tax, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 895/PUN/2017[2012-13]Status: DisposedITAT Pune20 Apr 2022AY 2012-13

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Poona Club Ltd, Pune vs. Deputy Commissioner of Income-Tax, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 894/PUN/2017[2011-12]Status: DisposedITAT Pune20 Apr 2022AY 2011-12

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Poona Club Ltd, Pune vs. Deputy Commissioner of Income-Tax, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 893/PUN/2017[2009-10]Status: DisposedITAT Pune20 Apr 2022AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Poona Club Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 4, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 2242/PUN/2017[2014-15]Status: DisposedITAT Pune20 Apr 2022AY 2014-15

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Assistant Commissioner of Income-Tax, Circle - 4, Pune vs. M/S. Poona Club Ltd, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 2221/PUN/2017[2014-15]Status: DisposedITAT Pune20 Apr 2022AY 2014-15

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Poona Club Ltd., Pune vs. Deputy Commissioner of Income-Tax, Circle - 4, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 1653/PUN/2017[2013-14]Status: DisposedITAT Pune20 Apr 2022AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

Assistant Commissioner of Income Tax, Pune vs. M/S. Poona Club Ltd., Pune

In the result, the appeal filed by the Revenue in ITA

ITA 1236/PUN/2017[2009-10]Status: DisposedITAT Pune20 Apr 2022AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Ravisl.

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(1)Section 143(3)Section 147Section 148

…The Hon’ble ITAT in assessee’s own case for earlier years also held that the entrance fees received from the members is capital receipts. The ld. AR also placed reliance on the decision of the ITAT, Ahmedabad Bench in the case of ACIT vs. Karnavati Club Ltd., 4 ITR 174. 34. The issue whether the entrance fee is as revenue account or capital account is no more res-integra as the issue was decided by the Hon’ble Bombay High Court in the case of CIT vs. W.I.A.A. Club Ltd., 136 ITR 569 (Bom.-HC) wherein it held as follows :- “Now, it is important to bear in mind that though entrance fee is received by the assessee fr…

ACIT v. Karnavati Club Ltd. (4 ITR 174) — Cited in 14 Judgments | BharatTax