https://www.taxtmi.com/caselaws?id=208014 The Tribunal upheld the CIT's order under section 263 for both assessment years but vacated specific directions regarding treating advance sale of room nights as income and disallowing provision for holiday membership surrender value. The Tribunal allowed the Assessing Officer to examine the provision's adequacy and income recognition in fresh assessment proceedings. Appeals were allowed in part. en-us Wed, 16 Mar 2011 00:00:00 +0530 Tue, 04 Oct 2011 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208014 The Tribunal upheld the CIT's order under section 263 for both assessment years but vacated specific directions regarding treating advance sale of room nights as income and disallowing provision for holiday membership surrender value. The Tribunal allowed the Assessing Officer to examine the provision's adequacy and income recognition in fresh assessment proceedings. Appeals were allowed in part. Case-Laws Income Tax Wed, 16 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208014