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Income Tax - Highlights / Catch Notes

Home Highlights January 2015 Year 2015 This

Accrual of income - the right to receive that amount was ...


Income Accrual Depends on Defect-Free Work Over a Specified Period; Conditional Right to Receive Income Explained.

January 19, 2015

Case Laws     Income Tax     HC

Accrual of income - the right to receive that amount was contingent upon there not being any defects in the work, during the stipulated period. It is then, and only then, that the amount can be said to have accrued - HC

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