https://www.taxtmi.com/caselaws?id=251873 The Court upheld the Tribunal's decision that service charges should not be considered as income for the assessment year but assessed in subsequent years when services were rendered. The Department's appeal, challenging the treatment of prepaid warranty service charges as income, was dismissed. The Court found that the service charges were advance payments for future services, supported by separate account maintenance and issuance of job cards. Legal precedents were cited, affirming the Tribunal's findings, and the deletion of a specific amount as income was upheld, ruling in favor of the assessee. en-us Tue, 23 Sep 2014 00:00:00 +0530 Wed, 01 Oct 2014 06:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251873 The Court upheld the Tribunal's decision that service charges should not be considered as income for the assessment year but assessed in subsequent years when services were rendered. The Department's appeal, challenging the treatment of prepaid warranty service charges as income, was dismissed. The Court found that the service charges were advance payments for future services, supported by separate account maintenance and issuance of job cards. Legal precedents were cited, affirming the Tribunal's findings, and the deletion of a specific amount as income was upheld, ruling in favor of the assessee. Case-Laws Income Tax Tue, 23 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251873