refundable security deposit of the students.
(b) observing that although appellant's obligation
to refund the above security deposits
existed, but since the appellant ... assessing officer, while making addition on
account of refundable security deposit, proceeded to
draw adverse inference on the basis of details available
on record, without
Estates Projects Limited.
owners as interest free 'refundable security deposit'. This
deposit is refundable to the assessee after 18 months of
commencement ... instant
case also paid refundable security deposit to the land owners.
The refundable security deposit was insisted upon by the land
owners in order
ITAT was only with regard to non-refundable deposit. However, in the present
case, the security deposit received by the assessee is shown as liability ... that since the amount is non-refundable to the
clients under any circumstances, therefore, such non-refundable security deposit
partakes the character of revenue receipts
Deposit and shall carry interest
at agreed rate of 18% per annum compounded and
payable quarterly.
8.2 Refund of Refundable Deposit: The Security
Deposit shall ... Security Deposit of Rs. 12 Crores. Clause 8.2 deal with
refund of refundable deposit and clause 8.3 recovery of Security Deposit in
event the owner
refundable security deposit from the prospective
owners of the properties for developing and user of the Golf Course.
Security deposit was non-refundable ... form of refundable deposit . The learned
CIT(Appeals) has rightly concluded in para 4.1.1 of his order that
non-refundable security deposits received by appellant
concluding that Rs. 7.00 Crores, which is
a part of the refundable Security Deposit of Rs. 15.00 Crores was
forfeited by the Assessee, simply ... Deposit in February, 2011 and that the
income has been accrued to the assessee in February, 2011 and thus
the entire refundable security deposit
With regard to Rs.13 crores of security deposit which was refund of
security deposit from M/s.Fortune Constructions Pvt. Ltd.. as per
Schedule ... refund Rs.13,00,00,000/
(Rupees thirteen crores only) out of the total Refundable Security Deposit
of Rs.40,00,00,000/- (Rupees forty
Members Security Deposit of Rs.11,59.75,000/-. It
has been noticed that this amount of security deposit was refundable to the
members after ... received refundable non interest bearing security deposit would
remain liability for the assessee club. Member by giving security deposit
entitles himself for the concessional rate
also agreed that total deposit towards
Interest Free Security Deposit and Interest Free Fit out Security Deposit paid by
Satyam amounting ... payable under this refundable security deposit
simultaneous to THE LESSEE in refunding the refundable security deposit
simultaneous to THE LESSEE surrendering peaceful, vacant and physical
ground raises issue of
notional versus actual interest on delayed refund of security deposits
placed with its associate enterprise M/s. PASL Windtech. The
Revenue ... payable from its associate enterprise. The same arose from
its security deposited to the latter entity in lieu of availing usages
rights on industrial land
