Case Law Details
Case Name : Income Tax Officer Vs M/s. Meeti Investment and Consultancy P. Ltd. (ITAT Ahemdabad)
Appeal Number : ITA No. 1714/Ahd/2010
Date of Judgement/Order : 29/11/2013
Related Assessment Year : 2006- 07
Courts :
All ITAT ITAT Ahmedabad
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ITO Vs. M/s. Meeti Investment and Consultancy P. Ltd. (ITAT Ahemdabad)
Brief facts of the case are that assessee is engaged in the business of sale/purchase of TDR, income by way of stallage and construction activity. During the assessment proceedings AO found that assessee had received advanced booking amount on account of the construction activity and the WIP was shown at Rs. 1,99,97,296/-. However, the assessee had not shown any profit on the ground that it was following project completio
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Then Is AS 7 Applicable to Builders who are constructing Buildinds for their own sale.