Cess fees is taxable as income derived from property held under trust: ITAT Delhi

Delhi Building and Others Construction Workers Welfare Board Vs ACIT (ITAT Delhi) ITAT Delhi held that cess fees received by the board is income derived from property held under trust and is thus taxable and the same cannot be treated as capital receipt. Facts- The assessee is a society registered u/s. 12A of the Act dated 23.03.2009. It was found that the assessee had transferred cess fees from its balance sheet to the income and expenditure account during the year of Rs. 191,61,53,808/-. In response of the show cause issued to the assessee it was replied that the cess fees received by the bo...