https://www.taxtmi.com/highlights?id=48053 Income recognition from contract activity - recognition income on reimbursement - AS-7 - there is no change so far as “cost based” percentage completion method in concerned - in the case of reimbursement, there is no profit element, consequently, recognition income of such reimbursement is not appropriate en-us Fri, 19 Jul 2019 06:26:51 +0530 Fri, 19 Jul 2019 06:26:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=48053 Income recognition from contract activity - recognition income on reimbursement - AS-7 - there is no change so far as “cost based” percentage completion method in concerned - in the case of reimbursement, there is no profit element, consequently, recognition income of such reimbursement is not appropriate Highlights Income Tax Fri, 19 Jul 2019 06:26:51 +0530 https://www.taxtmi.com/highlights?id=48053