TMI BlogRevision u/s 263 - Revenue recognition against advances received - It is the other party who makes the...Revision u/s 263 - Revenue recognition against advances received - It is the other party who makes the payment, who has not objected or had not made any claim against the misuse of the advance of funds other than the intended purpose. As long as the contracting parties are in agreement with the certification of the progress of the project, the revenue has very little role to play in the revenue recognition and investment activities. We do agree that revenue can always make enquiries and once the..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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