[aaykarbhavan] ITAT lays down criteria for selection of accounting method in construction projects

ITAT lays down criteria for selection of accounting method in construction projects

November 24, 2014[2014] 50 taxmann.com 372 (Mumbai - Trib.)

IT : In order to compute income from construction projects, method of accounting has to be selected keeping in view transfer of significant risks and rewards of ownership coupled with absence of uncertainty associated with realization of revenue, so that sale can be said to have taken place

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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