https://www.taxtmi.com/caselaws?id=341941 The Tribunal allowed the Private Limited Company's appeal, emphasizing adherence to accounting standards and justification for postponing revenue recognition based on non-satisfaction of conditions outlined in relevant guidance notes and accounting standards. The Tribunal found no merit in taxing the advance amount received for flat nos. 701 and 702, as the appellant offered the income in the subsequent year when permissions were obtained. en-us Fri, 31 Mar 2017 00:00:00 +0530 Fri, 21 Apr 2017 07:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341941 The Tribunal allowed the Private Limited Company's appeal, emphasizing adherence to accounting standards and justification for postponing revenue recognition based on non-satisfaction of conditions outlined in relevant guidance notes and accounting standards. The Tribunal found no merit in taxing the advance amount received for flat nos. 701 and 702, as the appellant offered the income in the subsequent year when permissions were obtained. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341941