India: Nonrefundable advance maintenance fees taxable in year of receipt
Madras High Court decision
The Madras High Court held that nonrefundable maintenance fees collected by the taxpayer in advance are taxable in the year of receipt regardless of when the associated services are provided.
The case is: CIT v. Johnson Lifts Pvt Ltd
Read a November 2024 report prepared by the KPMG member firm in India