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2009 (7) TMI 35 - HC - Income TaxTaxability of an account on which TDS has been deducted - retention money and the additional security deposit - The Assessing Officer found that the assessee omitted to admit the entire contract receipts that had been shown in the TDS Certificate and in the P & L Account – Held that when the assessee had no right to receive the money by virtue of the contract between the parties and the assessee also had no right to enforce payment, it could not be said that the right to receive payment of the remaining retention money or additional security had accrued –the department cannot include the said amount for the assessment year when actually this amount has not been paid to the assessee.
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