Income accrues only when services are rendered

DCIT Vs Hyderabad Educational Institutions Pvt. Ltd (ITAT Hyderabad) The tuition fee is received in the last quarter of a financial year, however, the corresponding service is rendered by the assessee in the next quarter which falls in a different financial year. Accordingly, held that income accrues only when the right accrued by rendering of services and not by promise for services. Facts- The assessee is a company running a main school known as Indus International School and another pre-school known as Gachibowli School. Academic year followed in the main school commences in the month of Au...