https://www.taxtmi.com/caselaws?id=362274 The Tribunal upheld the CIT(A)'s decision to delete the addition of retention money by the AO, emphasizing that retention money accrues only upon actual receipt, not when the contract is completed. It highlighted the principle of consistency in tax treatment and clarified that accounting entries do not determine income accrual. The Tribunal dismissed the Revenue's appeals, affirming that income should be taxed in the year of receipt. The decision aligns with established judicial principles and precedents, emphasizing the importance of uniformity in tax treatment across assessment years. en-us Tue, 19 Jun 2018 00:00:00 +0530 Fri, 22 Jun 2018 08:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362274 The Tribunal upheld the CIT(A)'s decision to delete the addition of retention money by the AO, emphasizing that retention money accrues only upon actual receipt, not when the contract is completed. It highlighted the principle of consistency in tax treatment and clarified that accounting entries do not determine income accrual. The Tribunal dismissed the Revenue's appeals, affirming that income should be taxed in the year of receipt. The decision aligns with established judicial principles and precedents, emphasizing the importance of uniformity in tax treatment across assessment years. Case-Laws Income Tax Tue, 19 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362274