Latest Income-Tax Details

For Full Access To All Latest Judgments on Income Tax
Click Here To Subscribe Now
Take a tour of our Income-Tax Library

The revenue had accepted the method of accounting adopted by the assessee for the previous years and in the light of guidance note provided that AS-7 is applicable to real estate developers, assessee itself has changed the method of accounting and for the subsequent years, it has changed from Project Completion Method to Percentage Completion Method in the subsequent year and as such, there is revenue neutral in the assessment year in question.

Shanti Prime Publication Pvt. Ltd.

Sec.  145 of Income-tax Act, 1961— Method of accounting & Sec. 22, 28(i) & 56 of Income-tax Act, 1961—Business income—CIT vs. PRESTIGE ESTATE PROJECTS PVT. LTD.[2020] 25 ITCD Online 004 (KARN)

Join Whats App Group
Check Your Tax Knowledge
Product Demo
Tax Lok English Viedo
Tax Lok Hindi Viedo
whatsapp with taxlok SUBSCRIBE OUR MAGAZINE

FOR FREE CONDUCTED TOUR OF OUR ON-LINE LIBRARIES WITH OUR REPRESENTATIVE-- CLICK HERE