https://www.taxtmi.com/caselaws?id=406160 The Court ruled in favor of the assessee, holding that no tax liability could be imposed as the unutilized provision amount was not payable to anyone and did not accrue as income. Emphasizing that tax deductions are required when income accrues, the Court concluded that in the absence of income accrual, there is no obligation to deduct tax at source. Therefore, the Court allowed the appeal, quashing the orders of the lower authorities and ruling in favor of the assessee. en-us Wed, 24 Mar 2021 00:00:00 +0530 Wed, 18 Jan 2023 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406160 The Court ruled in favor of the assessee, holding that no tax liability could be imposed as the unutilized provision amount was not payable to anyone and did not accrue as income. Emphasizing that tax deductions are required when income accrues, the Court concluded that in the absence of income accrual, there is no obligation to deduct tax at source. Therefore, the Court allowed the appeal, quashing the orders of the lower authorities and ruling in favor of the assessee. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406160