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Advance collected towards External Development Charges cannot form part of P&L: ITAT Delhi

POONAM GANDHI 16 Sep 2024 147 Views 0 comment Print Income Tax | Judiciary

Case Law Details

Case Name : ACIT Vs Ardee Infrastructure Pvt Ltd (ITAT Delhi)

Appeal Number : ITA No. 3584/DEL/2023

Date of Judgement/Order : 06/09/2024

Related Assessment Year : 2017-18

Courts : All ITAT ITAT Delhi

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ACIT Vs Ardee Infrastructure Pvt Ltd (ITAT Delhi)

ITAT Delhi held that External Development Charges (EDC) is an advance collected to provide common facilities and other services to the prospective flat owners. Since, the same is collected on approval of HUDA, it cannot form part of Profit and Loss Account. Accordingly, addition towards

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Name: POONAM GANDHI

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Location: AHMEDABAD, Gujarat, India

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