Start free trial
ThynkTax /Tax Reference /Case Laws /Macrotech - Project completion method

Macrotech - Project completion method

Income Tax Appellate Tribunal·2024·ITR
Facts

Real estate developer using project-completion method.

Issue

Revenue recognition under ICDS.

Held

Project-completion method is permissible for real-estate developers; ICDS does not override AS-7 framework.

Ratio

ICDS is supplementary, not contradictory, to existing AS.

Related judgments on the same sections

Supreme Court of India · 2013
Excel Industries - DEPB licences

Facts: Recognition of income on accrual of DEPB licences vs realisation on sale of licences. Issue: Year of taxability - when right accrues …

Use via API

Free, public REST. Fetch this judgment programmatically.

API docs 
curl https://api.thynktax.com/v1/tax-law/case-laws?q=Macrotech%20-%20Project%20completion%20method