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Income Tax - Highlights / Catch Notes

Home Highlights October 2019 Year 2019 This

Revenue recognition - sale of under construction flats - AO ...


Court Rules on Revenue Recognition for Under-Construction Flat Sales Using Percentage Completion Method by Assessing Officer.

October 24, 2019

Case Laws     Income Tax     AT

Revenue recognition - sale of under construction flats - AO directed to make an addition, bringing to tax by percentage completion method, the revenue out of the remaining executed agreements, if any, during the impugned assessment year.

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