Computation of ‘Cost of Sales’ and closing value of land - ...

Align 'Cost of Sales' with Matching Concept for True Profits; Avoid Geographical Area Calculations for Accuracy.

July 23, 2019

Case Laws Income Tax AT

Computation of ‘Cost of Sales’ and closing value of land - matching concept for determination of true profits - where the sale revenue has been recognized on the basis of FSI sold, the costs of FSI also needs to be determined on the same principles - The determination of ‘Cost of Sales’ in terms of geographical area would give totally distorted picture - not permitted

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Computation of ‘Cost of Sales’ and closing value of land - ...

Align 'Cost of Sales' with Matching Concept for True Profits; Avoid Geographical Area Calculations for Accuracy.

July 23, 2019

Case Laws Income Tax AT

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