Income recognition - No doubt, the Income-tax Act takes into ...

Income-Tax Act: Tax Liability Arises Only When Income Accrues or is Received, Not When No Actual Income Results.

November 23, 2019

Case Laws Income Tax HC

Income recognition - No doubt, the Income-tax Act takes into account two points of time at which the liability to tax is attracted, viz., the accrual of the income or its receipt; but the substance of the matter is the income, if income does not result at all, there cannot be a tax.” - income accrues when there is a corresponding liability on the other party.

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Income recognition - No doubt, the Income-tax Act takes into ...

Income-Tax Act: Tax Liability Arises Only When Income Accrues or is Received, Not When No Actual Income Results.

November 23, 2019

Case Laws Income Tax HC

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