Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Revision u/s 263 - Method of accounting adopted for revenue recognition of the project - The Tribunal decided that the Pr.CIT erred in directing the AO to reassess based on the method of accounting adopted for revenue recognition. It noted that the appellant had consistently followed the project completion method, which had been accepted by the revenue authorities in the past, and the AO had applied his mind to this issue in the assessment. The Tribunal set aside the Pr.CIT's order on this issue, ruling in favor of the appellant.
Revision u/s 263 - Method of accounting adopted for revenue recognition of the project - The Tribunal decided that the Pr.CIT erred in directing the AO to reassess based on the method of accounting adopted for revenue recognition. It noted that the appellant had consistently followed the project completion method, which had been accepted by the revenue authorities in the past, and the AO had applied his mind to this issue in the assessment. The Tribunal set aside the Pr.CIT's order on this issue, ruling in favor of the appellant.
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