https://www.taxtmi.com/caselaws?id=71276 The Tribunal dismissed the Revenue's appeals for the assessment years 1991-92, 1992-93, and 1993-94. It held that the retention money did not accrue as income in the relevant years as the right to receive it was contingent upon the completion of contractual obligations and satisfactory performance tests. The method of accounting remained consistent, and the principle of matching income with expenditure did not necessitate the inclusion of retention money as income before it was rightfully due. en-us Wed, 29 Jun 2005 00:00:00 +0530 Fri, 22 Apr 2011 12:36:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71276 The Tribunal dismissed the Revenue's appeals for the assessment years 1991-92, 1992-93, and 1993-94. It held that the retention money did not accrue as income in the relevant years as the right to receive it was contingent upon the completion of contractual obligations and satisfactory performance tests. The method of accounting remained consistent, and the principle of matching income with expenditure did not necessitate the inclusion of retention money as income before it was rightfully due. Case-Laws Income Tax Wed, 29 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71276