https://www.taxtmi.com/caselaws?id=178035 Client advances received by an advocate-firm were treated as held in a fiduciary capacity and were not taxable on receipt, because income arose only when services were rendered and the firm acquired a vested right by raising bills; the addition was deleted on that issue. A restricted disallowance from business promotion expenses was upheld because the expenditure was substantially linked to hotels and restaurants and a personal element could not be ruled out. The appeal therefore succeeded only partly, with relief limited to the tax treatment of client advances and no relief on the business promotion disallowance. en-us Fri, 11 Jan 2008 00:00:00 +0530 Wed, 27 Jan 2016 14:24:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178035 Client advances received by an advocate-firm were treated as held in a fiduciary capacity and were not taxable on receipt, because income arose only when services were rendered and the firm acquired a vested right by raising bills; the addition was deleted on that issue. A restricted disallowance from business promotion expenses was upheld because the expenditure was substantially linked to hotels and restaurants and a personal element could not be ruled out. The appeal therefore succeeded only partly, with relief limited to the tax treatment of client advances and no relief on the business promotion disallowance. Case-Laws Income Tax Fri, 11 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178035