TaxTMI 
TaxTMI 
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.
Revenue Recognition when case is pending before the sessions court
25 Jan 2012 
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Revenue recognition suspension: developers must defer recognizing property sale revenue while transfer disputes remain pending in court.
Revenue recognition by real estate developers should be deferred when the transfer of property is contested and pending before a court; standard accounting practice treats such disputes as legal contingencies that prevent recognizing sale proceeds until resolution or effective transfer, so revenue is not released while the transfer remains subject to judicial determination. (AI Summary)
Revenue recognition by real estate developers should be deferred when the transfer of property is contested and pending before a court; standard accounting practice treats such disputes as legal contingencies that prevent recognizing sale proceeds until resolution or effective transfer, so revenue is not released while the transfer remains subject to judicial determination. (AI Summary)