TMI BlogAccrual of income - Since the stock-in-trade has only been contributed and has not been sold during the...Accrual of income - Since the stock-in-trade has only been contributed and has not been sold during the relevant AY, there is no receipt or accrual of business receipt during the relevant AY. - the authorities below indeed erred in bringing to tax the anticipated business profits on assessee’s entering into a development agreement (JDA) in respect of the land held by the assessee as stock in trade. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
