https://www.taxtmi.com/caselaws?id=67380 Amounts received under uncompleted hire purchase transactions did not constitute taxable income in the relevant assessment year because the assessee had no enforceable right to the money until the agreements were concluded. The receipt retained the character of a deposit or advance and acquired income character only on crystallisation in the later year, when it had already been brought to tax. It was therefore not assessable as income for the year in question. en-us Mon, 30 Dec 1985 00:00:00 +0530 Thu, 10 Mar 2011 12:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67380 Amounts received under uncompleted hire purchase transactions did not constitute taxable income in the relevant assessment year because the assessee had no enforceable right to the money until the agreements were concluded. The receipt retained the character of a deposit or advance and acquired income character only on crystallisation in the later year, when it had already been brought to tax. It was therefore not assessable as income for the year in question. Case-Laws Income Tax Mon, 30 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67380