Work completion method is allowed in income tax dept.?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 March 2016
One of assessee is a builder and developer in SRA . He is following work completion method. Is it allowed now a days ? or he has to convert to percentage completion method ?
Kindly revert
Please provide any link or some sort of supporting if possible.
Kindly revert
Please provide any link or some sort of supporting if possible.
08 March 2016
There are number of case laws where project completion method is allowed. But it is always a matter of dispute with the IT authorities. Generally whatever method the assessee is following regularly can be followed. I am sure you can get caselaws in taxman.com but u need a registered license to view it.
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