Deemed Income / accrual of income - income on account of ...

Retention Money Not Income Until Obligations Met; No Vested Right in Assessment Year.

August 3, 2022

Case Laws Income Tax HC

Deemed Income / accrual of income - income on account of retention money - the right to receive the retention money is accrued only after the obligations under the contract are fulfilled and the assessee had no vested right to receive the same in this assessment year, therefore, it would not amount to an income of the assessee in the year in which it is retained - HC

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Deemed Income / accrual of income - income on account of ...

Retention Money Not Income Until Obligations Met; No Vested Right in Assessment Year.

August 3, 2022

Case Laws Income Tax HC

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