Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Addition on account of revenue recognition following percentage of completion method (POCM) - as per AO assessee had incurred substantial expenses on construction but the revenue had not been recognized on the basis of percentage of completion method - It was found by the ITAT that the Assessee had already shown 98.62% of the total revenue in subsequent years based on POCM. The Tribunal agreed with the Assessee's contention that revenue recognition based on POCM in the current year would lead to complications and would not benefit the Revenue. - The addition made by the Assessing Officer was deleted based on these findings.
Addition on account of revenue recognition following percentage of completion method (POCM) - as per AO assessee had incurred substantial expenses on construction but the revenue had not been recognized on the basis of percentage of completion method - It was found by the ITAT that the Assessee had already shown 98.62% of the total revenue in subsequent years based on POCM. The Tribunal agreed with the Assessee's contention that revenue recognition based on POCM in the current year would lead to complications and would not benefit the Revenue. - The addition made by the Assessing Officer was deleted based on these findings.
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