Accrual of income - Taxability of enhanced award pronounced by the arbitrator - Merely because by virtue...

Accrual of income - Taxability of enhanced award pronounced by the arbitrator - Merely because by virtue of an interim order, with or without conditions, some payment is made for the purpose of Income tax Act, it would not constitute income and therefore there is no liability to pay tax on the day such interim payment is received. - HC .....

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