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    Income Tax

    Accrual of income - Accounting as prescribed by accounting...

    Transition from Project Completion to Percentage Completion Method Under AS-7: Revenue-Neutral Impact on Income Tax Assessment.

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    Income TaxMay 11, 2020Case LawsHC

    Accrual of income - Accounting as prescribed by accounting standard AS-7 - Completed Contract Method - for the subsequent years, it has changed from Project Completion Method to Percentage Completion Method in the subsequent year and as such, there is revenue neutral in the assessment year in question.

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