Rejection of books of accounts - recognition of income - ...
Income Tax
January 31, 2020
Rejection of books of accounts - recognition of income - Development of housing project - assessee has not followed percentage completion method as per the Guidance Note issued by ICAI - The Guidance Note issued by the ICAI is recommendatory. The same do not override the choice of method of accounting to be followed by the assessee provided under the Act.
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