https://www.taxtmi.com/caselaws?id=203814 HC affirmed Tribunal: under the mercantile system fees taken in advance for full-course packages constitute deposits, not income, until services are rendered in the relevant year. The AO erred in treating advance receipts as becoming due on receipt. Applying accrual and matching principles, unexecuted-package receipts are taxable in the year services are performed; recognizing them earlier would be anomalous and prejudicial. Appeals were dismissed and the assessments restored to treat advance receipts as income only when earned in the subsequent accounting period. en-us Fri, 29 Oct 2010 00:00:00 +0530 Tue, 26 Aug 2025 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203814 HC affirmed Tribunal: under the mercantile system fees taken in advance for full-course packages constitute deposits, not income, until services are rendered in the relevant year. The AO erred in treating advance receipts as becoming due on receipt. Applying accrual and matching principles, unexecuted-package receipts are taxable in the year services are performed; recognizing them earlier would be anomalous and prejudicial. Appeals were dismissed and the assessments restored to treat advance receipts as income only when earned in the subsequent accounting period. Case-Laws Income Tax Fri, 29 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203814