Demurrages for delay in project execution- HC remanded matter back to ITAT

The Estate Vs ACIT (Karnataka High Court)

In the given case the appellant is a partnership firm which is engaged in the business of real estate development, construction and sale of flats under the name and style of ‘The Estate’. The appellant filed its original return of income declaring its total income of Rs. 95,04,431/- on 31-10-1997 and subsequently on 31-3-1998 filed revised return declaring the same income with some changes in the balances of sister concerns in the balance sheet. The case of the appellant was selected for scrutiny by the Asse

Please become a Premium member. If you are already a Premium member, login here to access the full content.