Future Development Expenses Deductible for Unascertained Liabilities if Tied to Recognized Revenue per Project Completion Method.

Unascertained liability - allowability of future development expenses - expenditure related to the revenue already recognised by the assessee in the year under consideration by following the project completion method and the same was allowable as deduction in the year under consideration as per the concept of matching principle if such expenses were duly identified by the assessee in respect of each and every projects. .....

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