Advance from Overseas Patients cannot be treated as Capital Receipts: ITAT Ruling on Medical Tourism [Read Order]

Advance from Overseas Patients - treated as Capital Receipts - ITAT Ruling - Medical Tourism - Taxscan

The Bangalore bench of the ITAT, in a significant ruling on medical tourism, has held that the advance from overseas patients cannot be treated as capital receipts since the same cannot remain perpetually so and even after passage of 46 months. The assessee, a practicing doctor challenged the order of the Assessing Officer argued that…

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