Accrual of income - option premium received on sale of 20 flats - interest free option deposits before...

Accrual of income - option premium received on sale of 20 flats - interest free option deposits before commencement of construction - Revenue cannot decide or dictate as to how an assessee should conduct its business or maximize its profits. It is by now well settled in law that, the Revenue cannot step into the shoes of the businessman for determining reasonableness and business expediency. Hence, the Ld. DR could not have questioned the necessity, purpose and manner of raising of funds by the ..... .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X