https://www.taxtmi.com/caselaws?id=310908 ITAT Kolkata remanded the matter to AO for fresh determination of eligible projects under Section 80IA deduction, noting that proper segregation of projects was not done by either AO or assessee during the appeal year. The tribunal directed AO to identify qualifying infrastructure projects based on earlier year decisions. Regarding retention money, ITAT held that under mercantile accounting system, retention money from government works contracts is taxable only upon receipt, not when bills are raised, following Calcutta HC precedent in Simplex Concrete Piles case. en-us Wed, 22 Nov 2017 00:00:00 +0530 Sat, 25 Nov 2023 06:00:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310908 ITAT Kolkata remanded the matter to AO for fresh determination of eligible projects under Section 80IA deduction, noting that proper segregation of projects was not done by either AO or assessee during the appeal year. The tribunal directed AO to identify qualifying infrastructure projects based on earlier year decisions. Regarding retention money, ITAT held that under mercantile accounting system, retention money from government works contracts is taxable only upon receipt, not when bills are raised, following Calcutta HC precedent in Simplex Concrete Piles case. Case-Laws Income Tax Wed, 22 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310908