‘Retention money’ being contingent upon satisfactory completion of contract work is taxable in actual year of receipt

INCOME TAX: Retention money retained by contractee being deferred payment and contingent upon satisfactory completion of contract work, assessee would have no vested right to receive same in year in which it was retained; income was to be booked in year of actual receipt

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194682/‘retention-money’-being-contingent-upon-satisfactory-completion-of-contract-work-is-taxable-in-actual-year-of-receipt.aspx