Percentage Completion Method for Revenue Recognition not mandatory for Construction Companies till AY 2016-17

Hi-tech Estates & Promoters Pvt Ltd. Vs PCIT (ITAT Cuttack)

Percentage Completion Method for Revenue Recognition not mandatory for Construction Companies till AY 2016-17

The issue under consideration is whether as per Section 43CB, profits and gains of a construction company mandatorily be determined on the basis of percentage completion method for revenue  recognition?

ITAT states that, the assessee is a construction company engaged in the con

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