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Ask your queries or reply to others' queries => Discussion => Topic started by: rajul5234 on March 22, 2014, 09:31:50 AM

Title: Receipt of Retention Money against bank guarantee
Post by: rajul5234 on March 22, 2014, 09:31:50 AM
Gujarat High Court. Tax appeal 554 /2003. Amarshiv Construction. Dt. 19/3/14

Held, Receipt of retention money against bank guarantee is not income accrued for current year though amount is  actually received, it is income accruing in the year when defects liability period is over.

R. K. Patel