https://www.taxtmi.com/caselaws?id=791031 Time-share membership fees linked to continuing accommodation and allied service obligations were not required to be taxed in full on receipt. The fee structure was treated as partly consideration for accommodation and partly advance payment for future facilities, so the income related to services over the membership tenure. Applying accrual, real income and commercial accounting principles, the deferred recognition method was accepted, and revenue could be spread over the period to which the services related even under the mercantile system. en-us Tue, 28 Apr 2026 00:00:00 +0530 Tue, 05 May 2026 09:09:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791031 Time-share membership fees linked to continuing accommodation and allied service obligations were not required to be taxed in full on receipt. The fee structure was treated as partly consideration for accommodation and partly advance payment for future facilities, so the income related to services over the membership tenure. Applying accrual, real income and commercial accounting principles, the deferred recognition method was accepted, and revenue could be spread over the period to which the services related even under the mercantile system. Case-Laws Income Tax Tue, 28 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791031