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Accounting Treatment of selling & professional costs in Non-commenced Projects
Case Law Details
- Case Name
- ACIT Vs Casa Grande Homes Pvt Ltd (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Chennai
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ACIT Vs Casa Grande Homes Pvt Ltd (ITAT Chennai)
In the case of ACIT vs. Casa Grande Homes Pvt Ltd (ITAT Chennai), the appeal by the Revenue for Assessment Year (AY) 2016-17 was brought against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] dated 20th September 2019, arising from the assessment framed by the Assessing Officer (AO) under section 143(3) of the Income Tax Act, 1961 on 27th December 2018. The primary issue revolved around the treatment of indirect costs—specifically selling and professional costs—in projects that had not yet commenced.
The Reve...
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