2023 (6) TMI 355

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....Priya Sarkar And Mr Shlok Chandra, Jr. Standing Counsel Respondent: None. ORDER RAJIV SHAKDHER, J.: (ORAL) CM APPL. 18244/2023 1. This is an application moved on behalf of the appellant/revenue seeking condonation of delay in re-filing the appeal. 1.1 According to the appellant/revenue, there is a delay of 263 days. 2. For the reasons given in the application, the delay is condoned. 3. T....

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.... hereafter: "12. Further, we have gone through the payments made by the NMC to the assessee. The payment pattern reveals that the assessee has raised separate invoices for O&M phase on a regular basis as per Section 5 of TOR Clause 8.3 and the same have been duly accounted in the years in which it has been received. Thus, on going through the entire facts of the case, we find that the three diff....

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....ties cannot be clubbed with the construction activity. Having gone through the accounting standards (AS-7 and AS-9), we find that application of the standard to separately identifiable components of single contract is allowable while determining the percentage completion of the project. Since, the O&M phase commences after the construction of activity of rehabilitation phase, we hereby hold that t....