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Case Law Details

Case Name : Krishna E-Campus Pvt. Ltd. Vs DCIT (ITAT Bangalore)
Related Assessment Year : 2015-16
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Krishna E-Campus Pvt. Ltd. Vs DCIT (ITAT Bangalore)

ITAT Bangalore held that from clause (5) of Guidance Note issued by ICAI that the cost of construction and also saleable project area needs to be taken into account while recognizing revenue under the Percentage Completion Method.

Facts- The only issue contended by the assessee in this appeal is regarding recognition of revenue under the Percentage Completion Method [PCM] as per Accounting Standards [AS] issued by the Institute of Chartered Accountan

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