Dismissing the appeal of the revenue the Court held that the Tribunal was right in holding that the retention money on contract could not be included in the assessee’s income. (AY.2009-10)
CIT v. Voltech Projects Pvt. Ltd. (2020) 428 ITR 270 (Mad.)(HC)
S. 4 : Charge of income-tax-Accrual of income-Mercantile System of accounting-Retention money on contract-Cannot be included as income. [S. 5, 145]