https://www.taxtmi.com/caselaws?id=346862 The ITAT allowed the appeal, overturning the addition of advance subscription income to taxable income and the disallowance of professional fees paid to Mr. Sagnik Goswami. The ITAT held that under the mercantile system, advance subscription income should be adjusted in subsequent years and not taxed in the year of receipt. Additionally, the disallowance of professional fees was deemed unjustified as Mr. Sagnik Goswami's qualifications and earnings were comparable to other professionals, warranting no disallowance. en-us Thu, 17 Aug 2017 00:00:00 +0530 Thu, 24 Aug 2017 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346862 The ITAT allowed the appeal, overturning the addition of advance subscription income to taxable income and the disallowance of professional fees paid to Mr. Sagnik Goswami. The ITAT held that under the mercantile system, advance subscription income should be adjusted in subsequent years and not taxed in the year of receipt. Additionally, the disallowance of professional fees was deemed unjustified as Mr. Sagnik Goswami's qualifications and earnings were comparable to other professionals, warranting no disallowance. Case-Laws Income Tax Thu, 17 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346862