Revision u/s 263 - Error in computing capital WIP - vis a vis ...

Income Tax

July 12, 2022

Revision u/s 263 - Error in computing capital WIP - vis a vis the issue of accounting for income by the assessee whether in accordance with the Guidelines of the ICAI, we find that there is no error in the order of the AO who had accepted the method followed by the assessee, i.e Project Completion, on being demonstrated that it was in accordance with the Guidelines issued by the ICAI, which fact has not been controverted by the Ld.PCIT when demonstrated to him also during revisionary proceedings. - Revision order set aside - AT

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Revision u/s 263 - Error in computing capital WIP - vis a vis ...

Income Tax

July 12, 2022

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