https://www.taxtmi.com/caselaws?id=256359 The SC upheld the Tribunal's decision, dismissing the Revenue's appeal. The appellant's treatment of advance amounts as revenue receipts was contested by the Revenue, arguing it should be recognized upon actual utilization. The Tribunal found the advance collected for room nights and holiday schemes to be liabilities until actual use, supported by industry practices and legal principles. The dismissal was justified, as no error of law was found, and the Tribunal's factual analysis supported the decision, aligning with the Revenue's interests and previous case law. en-us Fri, 09 May 2014 00:00:00 +0530 Wed, 11 Feb 2015 09:55:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256359 The SC upheld the Tribunal's decision, dismissing the Revenue's appeal. The appellant's treatment of advance amounts as revenue receipts was contested by the Revenue, arguing it should be recognized upon actual utilization. The Tribunal found the advance collected for room nights and holiday schemes to be liabilities until actual use, supported by industry practices and legal principles. The dismissal was justified, as no error of law was found, and the Tribunal's factual analysis supported the decision, aligning with the Revenue's interests and previous case law. Case-Laws Income Tax Fri, 09 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256359