Revenue Recognition when case is pending before the sessions court

[Rajashekar Vaddatti]

Hi All,

Can anyone help us with  CASE LAWS ,on Postponement of Revenue Recognition by Real Estate Developers when the TRANSFER OF PROPERTY IS DISPUTED before the court.

AI Summary

Revenue Recognition Delayed for Real Estate Developers During Property Transfer Disputes: Accounting Practice Insights A query was raised regarding the postponement of revenue recognition by real estate developers when the transfer of property is disputed and pending before a sessions court. The inquiry sought case laws on the matter. A response indicated that, according to standard accounting practices, revenue cannot be recognized if the issue is pending in a court of law.