https://www.taxtmi.com/caselaws?id=9909 Retention money under a contract does not accrue as income until the contractual obligations are satisfactorily completed, because the right to receive it remains contingent on fulfilment of those conditions. On that principle, the retained amount was treated as deferred rather than accrued income, and it was not taxable in the relevant year. en-us Mon, 07 Aug 2006 00:00:00 +0530 Tue, 20 Sep 2011 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9909 Retention money under a contract does not accrue as income until the contractual obligations are satisfactorily completed, because the right to receive it remains contingent on fulfilment of those conditions. On that principle, the retained amount was treated as deferred rather than accrued income, and it was not taxable in the relevant year. Case-Laws Income Tax Mon, 07 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9909