Friday, 17 January 2014

No denial of sec. 10B relief if revenue favoured adoption of ‘PCM’ instead of ‘POCM’ chosen by asses

IT : Where assessee engaged in business of construction, adopted project completion method which was one of recognized method of accounting, its claim for deduction under section 80-IB (10) could not be rejected merely on ground that it should have adopted percentage completion method of accounting


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