Retention money to be taxed in year of Receipt : High Court

By | September 15, 2022
(Last Updated On: September 16, 2022)

Retention money to be taxed in year of Receipt : High Court

Retention money retained by contractee being deferred payment and contingent upon satisfactory completion of contract work, assessee would have no vested right to receive same in year in which it was retained; income was to be booked in year of actual receipt

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