Expenses Debited to P&L Account - Can we determine with ...

Determining Surplus or Deficit in Partially Completed Contracts via Expenses is Inaccurate; Losses Not for Depreciation Shortfalls.

November 4, 2013

Case Laws Income Tax AT

Expenses Debited to P&L Account - Can we determine with reasonable accuracy the surplus or deficit that would arise in a contract execution which is far from complete - Can we say that such loss claimed were to off-set any deficiency in the depreciation claim - Answer to all these, in our opinion are a firm ‘No’. - AT

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Expenses Debited to P&L Account - Can we determine with ...

Determining Surplus or Deficit in Partially Completed Contracts via Expenses is Inaccurate; Losses Not for Depreciation Shortfalls.

November 4, 2013

Case Laws Income Tax AT

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