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2016 (12) TMI 941 - AT - Income TaxDisallowance of expenses under the head "provision for development expenses" - Held that:- It is useful to note that the assessee has used the percentage completion method. When an assessee follows the percentage completion method then at the completion of the project, the assessee has to make up the accounts. At that relevant time, the assessee can offer surpluses from the provisions or may claim the deficit in case the actual expenditure is more than the provisions. Hence, the revenue is not without any remedy in case the provision is excessive. See Shree Salasar Overseas (Pvt.) Ltd. vs. ACIT [2014 (3) TMI 1055 - ITAT JAIPUR] - Decided in favour of assessee
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