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Receipt of Retention Money against bank guarantee

Started by rajul5234, March 22, 2014, 09:31:50 AM

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rajul5234

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