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Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Taxability pertaining to retention money - Whether income did ...

Income Tax

March 31, 2014

Taxability pertaining to retention money - Whether income did accrue or not would depend on the fact whether the right to receive said amount had accrued or not - Merely whether tax was deductible or not would not decide the taxability of certain receipts - HC

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  10. Accrual of income - retention money - When the assessee had no right to receive the money by virtue of the contract between the parties and the assessee also had no...

 

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