https://www.taxtmi.com/caselaws?id=438781 Operations and maintenance expenditure was not required to be included in contract cost for revenue recognition under the percentage completion method where the Tribunal found that construction and maintenance were separate phases and maintenance began only after construction ended. On that factual basis, the expenditure attributable to operations and maintenance could not be clubbed with construction costs. The court also noted that the amounts relating to the maintenance phase had already been offered to tax in the year of receipt. In these circumstances, no substantial question of law arose. en-us Mon, 17 Apr 2023 00:00:00 +0530 Thu, 08 Jun 2023 09:10:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438781 Operations and maintenance expenditure was not required to be included in contract cost for revenue recognition under the percentage completion method where the Tribunal found that construction and maintenance were separate phases and maintenance began only after construction ended. On that factual basis, the expenditure attributable to operations and maintenance could not be clubbed with construction costs. The court also noted that the amounts relating to the maintenance phase had already been offered to tax in the year of receipt. In these circumstances, no substantial question of law arose. Case-Laws Income Tax Mon, 17 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438781