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ITAT Delhi Deletes ₹4.30 Cr Addition Due to Timing Difference in Revenue Recognition
Case Law Details
- Case Name
- Halcrow Group Ltd. Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Delhi
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Halcrow Group Ltd. Vs DCIT (ITAT Delhi)
The Income Tax Appellate Tribunal (ITAT), Delhi, adjudicated an appeal concerning an addition of ₹4,30,05,774 made by the Assessing Officer (AO) on account of change in the method of revenue recognition. The assessee, a UK-based company engaged in infrastructure planning, design, and management services, filed its return for AY 2013–14 declaring a loss. During the relevant year, it was executing the Kishanganga project in Jammu and Kashmir and recognized revenue using the percentage of completion method.
The dispute arose because the...
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