Percentage completion method of Revenue recognition Practised by Builder is acceptable as per Accounting Standard: ITAT [Read Order]

Revenue recognition - Accounting Standard - ITAT - taxscan

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the percentage completion method of Revenue recognition practised by Builder is acceptable as per Accounting Standards. The assessee was represented by Shri Suchek Ancheliya and the Department was represented by Shri Hoshang B. Irani. The Revenue challenged the order dated…

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