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Income Tax - Highlights / Catch Notes

Home Highlights March 2019 Year 2019 This

Accrual of income - after defect liability period or contract ...


Income Accrues Post-Defect Liability Period; Only After Contract Completes Without Defects Does Right to Amount Arise.

March 30, 2019

Case Laws     Income Tax     HC

Accrual of income - after defect liability period or contract completion date - if assessee's right to such amount would depend on there being no defects arising in the subsequent period then accrual occurs only on completion of the retention period (defect liability period)

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