Accrual of income - since parent Company was in severe financial ...

Tribunal Applies Real Income Theory, Rules No Income Tax on Unpaid Claims Due to Parent Company's Financial Crisis.

June 10, 2019

Case Laws Income Tax HC

Accrual of income - since parent Company was in severe financial crisis, the assessee could not receive any payment for a long time and even after delay of nearly four years received only 8.58% of the total claim - with respect to the larger amount, the bill/claim was for damages for pre mature termination of the contract which contracted party did not even accepted - Tribunal has correctly applied the real income theory, no income tax can be leviable

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Accrual of income - since parent Company was in severe financial ...

Tribunal Applies Real Income Theory, Rules No Income Tax on Unpaid Claims Due to Parent Company's Financial Crisis.

June 10, 2019

Case Laws Income Tax HC

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