https://www.taxtmi.com/caselaws?id=30852 The High Court held that amenity charges for central air-conditioning and receipts for car park allotment are revenue receipts assessable in the year of receipt, contrary to the Tribunal's decision to spread them over multiple years. However, the court upheld the Tribunal's decision allowing full deduction of legal and advertisement expenses in the year incurred under the completed contract method of accounting. The judgment emphasized aligning treatment of receipts and expenses with agreement terms and business nature. en-us Thu, 29 Nov 2007 00:00:00 +0530 Mon, 29 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30852 The High Court held that amenity charges for central air-conditioning and receipts for car park allotment are revenue receipts assessable in the year of receipt, contrary to the Tribunal's decision to spread them over multiple years. However, the court upheld the Tribunal's decision allowing full deduction of legal and advertisement expenses in the year incurred under the completed contract method of accounting. The judgment emphasized aligning treatment of receipts and expenses with agreement terms and business nature. Case-Laws Income Tax Thu, 29 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30852