https://www.taxtmi.com/caselaws?id=263871 The Revenue's appeals challenging the assessment of 1/8th membership receipt amounts as income and the disallowance of a safety bonus claim were dismissed. The tribunal upheld the CIT(Appeals)'s decisions, affirming the method of recognizing income based on the 1/8th rule for membership receipts and allowing the safety bonus liability as per actuarial valuation. The judgment highlighted the significance of consistency in applying legal principles and following established practices in tax assessments. en-us Wed, 11 Mar 2015 00:00:00 +0530 Fri, 08 Jan 2016 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263871 The Revenue's appeals challenging the assessment of 1/8th membership receipt amounts as income and the disallowance of a safety bonus claim were dismissed. The tribunal upheld the CIT(Appeals)'s decisions, affirming the method of recognizing income based on the 1/8th rule for membership receipts and allowing the safety bonus liability as per actuarial valuation. The judgment highlighted the significance of consistency in applying legal principles and following established practices in tax assessments. Case-Laws Income Tax Wed, 11 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263871