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2020 (7) TMI 754 - HC - Income TaxAccrual of income - retention money on contract included in the Assessee's income for the AY.2009-10? - whether tribunal wrong in holding that the retention amounts cannot be considered as income of the Assessee because such amounts were still to be received, when the Assessee follows the Mercantile System of Accounting and income is to be assessed on "accrual basis"? - HELD THAT:- Assessee's own case for the previous Assessment Year 2008-2009 has been decided in favour of the Assessee [2014 (11) TMI 1233 - MADRAS HIGH COURT]. Since the issue raised in this appeal had already been decided against the department by the Supreme Court in Commissioner of Income Tax v. M/s Ignified Boilers India Ltd. [2006 (7) TMI 726 - SC ORDER] and in Commissioner of Income Tax v. East Coast Constructions & Industries Limited [2006 (12) TMI 574 - SC ORDER] no question of law arises for consideration. Decided in favour of the Assessee
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