Income can be Said to have Accrued Only when there is Certainty of Receipt: ITAT

Income - Accrued - Only - Certainty - Receipt - ITAT - TAXSCAN

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the income could be said to have accrued only if there was a certainty of receipt. The assessee, Essar Steel Metal Trading Limited was engaged in the business of trading in Steels and holding investments. The assessee had given inter corporate deposits to…

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