https://www.taxtmi.com/caselaws?id=61547 The Tribunal upheld the CIT(A)'s decision in favor of the assessee regarding the adjustment of non-refundable 'time sharing membership fee' towards the written down value of block assets, emphasizing the valid agreement between the parties. The CIT(A) ruled in favor of the assessee on the taxability of the fee and treatment of expenses, allowing a portion of pre-operative expenses and deferred revenue expenditure. The Tribunal directed the AO to consider interest charged on advances to a sister concern based on a decision by the Allahabad High Court, partially allowing the Revenue's appeal. en-us Mon, 18 Jul 2005 00:00:00 +0530 Thu, 13 Jan 2011 12:30:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61547 The Tribunal upheld the CIT(A)'s decision in favor of the assessee regarding the adjustment of non-refundable 'time sharing membership fee' towards the written down value of block assets, emphasizing the valid agreement between the parties. The CIT(A) ruled in favor of the assessee on the taxability of the fee and treatment of expenses, allowing a portion of pre-operative expenses and deferred revenue expenditure. The Tribunal directed the AO to consider interest charged on advances to a sister concern based on a decision by the Allahabad High Court, partially allowing the Revenue's appeal. Case-Laws Income Tax Mon, 18 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61547