Right to receive the retention money is accrued only after the ...

Retention Money Not Income Until Contract Fulfilled: No Vested Right in Assessment Year When Retained.

June 1, 2020

Case Laws Income Tax AT

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.

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Right to receive the retention money is accrued only after the ...

Retention Money Not Income Until Contract Fulfilled: No Vested Right in Assessment Year When Retained.

June 1, 2020

Case Laws Income Tax AT

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