Held that the right to receive the income accruing under the agreement arose only after inspection and acceptance of the materials by L as stipulated under clause 4.2(b) of the agreement. And, until the conditions stipulated in clause 4.2(b) were satisfied, the income embedded in the agreement is only a hypothetical income. The Assessing Officer had erred in concluding that the balance amount had accrued to the assessee based on terms of clause 4.2(a) instead of clause 4.2(b). Order of CIT(A) is affirmed.  CIT v. Ashokbhai Chimanbhai (1965) 56 ITR 42 (SC)  relied on  wherein the Court held that  It is well-settled that income can be said to accrue only when the assessee acquires a right to receive that income and such accrual may depend on the agreements which may give rise to such rights.   (AY.2013-14)