CIT-I CHANDIGARH vs. M/S PB.INFO&COMM. TECH. CORP. LTD. CHD.

The appeals are dismissed

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

price after six years had to be calculated on spread over basis and not on accrual basis in the year of allotment. Further in Unique Mercantile Service (P) Ltd.'s case (Supra), the assessee-Company which was engaged in the business of providing facility cards to the members on payment of prescribed fees which was called membership fees