2023 (6) TMI 355

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....atia, Sr. Standing Counsel with Ms 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 i....

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....raph 12 of the Tribunal's order. The same is extracted 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 thro....

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....ructed project is of 60 months. Hence, the maintenance activities 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 constructi....