https://www.taxtmi.com/caselaws?id=345030 The High Court upheld the Tribunal's decision, ruling against the Assessee regarding the tax liability on unclaimed amounts from the Guarantee Reserve Account. The Court emphasized the significance of contractual terms and factual determinations in assessing income. It concluded that unclaimed amounts could be considered income when they became the Assessee's own money due to limitations or other rights. The case was disposed of in favor of the Respondent, highlighting the importance of adhering to contractual obligations and factual findings in tax assessments. en-us Sat, 01 Jul 2017 00:00:00 +0530 Tue, 04 Jul 2017 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345030 The High Court upheld the Tribunal's decision, ruling against the Assessee regarding the tax liability on unclaimed amounts from the Guarantee Reserve Account. The Court emphasized the significance of contractual terms and factual determinations in assessing income. It concluded that unclaimed amounts could be considered income when they became the Assessee's own money due to limitations or other rights. The case was disposed of in favor of the Respondent, highlighting the importance of adhering to contractual obligations and factual findings in tax assessments. Case-Laws Income Tax Sat, 01 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345030