Addition of expenditure on provision for construction cost of ...

Appellate Authority to Reassess Construction Cost Expenditure Accrual Under Mercantile Accounting System, Ensuring Proper Matching Concept Application.

December 17, 2021

Case Laws Income Tax AT

Addition of expenditure on provision for construction cost of various sites in view of mercantile system of accounting - matching concept of accountancy provision - Expenditure can be provided only, if the expenditure has actually accrued. Since in this case, Ld.CIT(A) has not given any finding that the expenditure has accrued, we deem at appropriate to remit the issue to the file of the Ld.CIT(A). The Ld.CIT(A) shall examine the issue afresh and give a finding whether the expenditure allowed by him can be considered to be the expenditure which is accrued during this year - AT

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Addition of expenditure on provision for construction cost of ...

Appellate Authority to Reassess Construction Cost Expenditure Accrual Under Mercantile Accounting System, Ensuring Proper Matching Concept Application.

December 17, 2021

Case Laws Income Tax AT

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