https://www.taxtmi.com/caselaws?id=233884 The Tribunal allowed the assessee's appeal by setting aside the addition of Rs. 11,01,94,324 based on revenue recognition, citing compliance with the percentage of completion method under AS-7. The disallowances of Rs. 9,35,91,110 representing overheads of EPS-BV, Rs. 1,56,61,303 paid as legal and professional charges, and Rs. 8,95,350 under section 40A(3) were confirmed due to lack of evidence. The issue of interest under sections 234A and 234B was referred back to the AO for further consideration in line with relevant case law. en-us Fri, 05 Apr 2013 00:00:00 +0530 Fri, 03 May 2013 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233884 The Tribunal allowed the assessee's appeal by setting aside the addition of Rs. 11,01,94,324 based on revenue recognition, citing compliance with the percentage of completion method under AS-7. The disallowances of Rs. 9,35,91,110 representing overheads of EPS-BV, Rs. 1,56,61,303 paid as legal and professional charges, and Rs. 8,95,350 under section 40A(3) were confirmed due to lack of evidence. The issue of interest under sections 234A and 234B was referred back to the AO for further consideration in line with relevant case law. Case-Laws Income Tax Fri, 05 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233884