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Income can only be taxable after sale deed execution

In the case of project completion method, Income can only be taxable after sale deed execution

IT: Where the assessee, engaged in construction business, was following project completion method, its income could be brought to tax only in the year when sale deeds of units sold were registered even though sale consideration might have been received earlier from the buyer.

HIGH COURT OF GUJARAT
Commissioner of Income Tax (Central), Surat
v.
Happy Home Corporation

CA Amresh Vashisht
Meerut

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Profile photo of CA Amresh Vashisht CA Amresh Vashisht

Meerut, India

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