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2013 (9) TMI 347 - ITAT BANGALOREComputation of income - works contract - determination of expenditure incurred for execution of works contract - Held that:- Having taken 95% of the total contract amount receivable by the assessee from the society for determining the accrued income as on 31.3.2006, the Assessing Officer ought to have deducted 95% of the total expenditure incurred by the assessee for forming layout as accrued expenditure for the year ending 31.3.2006. The CIT(A), for determining the income, had considered the entire contract receipt and total expenditure incurred by the assessee. We find that the action of CIT(A) cannot be faulted. - Decided against the revenue.
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