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Income Tax - Highlights / Catch Notes

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Accrual of income - Merely because retention money is ...

Income Tax

Accrual of income - Merely because retention money is accounted for in the books of account, that by itself does not make it taxable in A.Y. 2010-11 when in law the same cannot be said to have accrued in that year as discussed above.

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  2. Accrued income - whether a sum which represented retention money for fulfillment of the contract by the assessee should be treated as accrued income – Held No - HC

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  9. 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...

  10. Accrual of interest on refundable share application money - selection of assessment year - interest income has accrued only in the Assessment Year 1993-1994 and was...

 

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