Ad-Hoc Disallowance of 90% Expenditure Quashed by ITAT Delhi

Experion Developers Pvt. Ltd Vs ACIT (ITAT Delhi)

AO considered 90% of revenue expenses as part of the project cost / inventory / work in progress and accordingly made an ad hoc disallowance – Not sustain by ITAT Delhi

In the case of Experion Developers Pvt. Ltd. vs. ACIT, the Income Tax Appellate Tribunal (ITAT) Delhi addressed an ad-hoc disallowance made by the Assessing Officer (AO). The company, a real estate developer, consistently used the Percentage of Completion Method (POCM) for revenue recognition. During the asse

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