Accrual of income - An income from the MOU/lease agreement ...

Income from MOU or lease not taxable until all conditions met; book entries alone aren't sufficient for tax liability.

May 20, 2019

Case Laws Income Tax AT

Accrual of income - An income from the MOU/lease agreement cannot be said to have accrued or arisen or become legally due to assessee till the time the underlying integral conditions of MOU are fulfilled - taxability of income from proposed lease merely based on book entries de hors its accrual is not sustainable in law when tested on the touchstone of realistic parameters and well established judicial principles

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Accrual of income - An income from the MOU/lease agreement ...

Income from MOU or lease not taxable until all conditions met; book entries alone aren't sufficient for tax liability.

May 20, 2019

Case Laws Income Tax AT

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