issued by ICAI) and guidance note on recognition of revenue
by Real Estate Developers. During the relevant year under appeal, the development ... guidance notice on recognition of revenue by Real
Estate Developers issued by ICAI. For valuation of its inventory, the assessee is governed
business of development of plotted colonies, construction of flats
in the real estate sector, besides doing maintenance of colonies
and flats constructed/developed ... prescribed by AS-7/AS-9 and the
guidance note for Real Estate Developers issued by the
Institute of Chartered Accountants of India (ICAI
this
reference, it is submitted that the company is in Real
Estate Business since F.Y. 2002-03. The company has
treated the entire value ... company was formed with objective to start
Real Estate Business. The company was incorporated on
08.05.2002. In the financial year 2002-03 the company
guidance note on
recognition of revenue by the real estate developers issued by ICAI, the
revenue should be recognized when (i) the seller has transferred ... ownership and the seller retains no
effective control of the real estate to a degree usually associated with the
ownership (ii) no significant uncertainty exists
This is the version of this document from 13 November 2016.]
[Note: The original publication document is not available and this content could
Jindal Stainless Ltd.& Anr vs State Of Haryana & Ors on 11 November, 2016
background facts leading to these appeals in each case may
be taken note of at the outset in chronological order.
Case ... PRECEDENTS
29. It has been observed elsewhere, and it bears repetition to note in
the present context, that India is one of the several countries
Code
of Criminal Procedure, 1973 (for short, “ CrPC ”). It is necessary to note
here that when the Writ Petition
award damages only in favour of the plaintiff. It must be
noted that Rule 1 of Order 39 of the Code clearly provides
for interim ... Ashok Kumar Vs.
Govindammal and Anr.12 , wherein the Apex Court has noted certain
invalid on this ground as well.
18. It is pertinent to note that while section 89B
amendment only stipulates that if the notice of intimation ... excise, Director General
of Foreign Trade and private parties such as real estate
companies, insurance companies, share brokers, mutual fund
companies, telecom and power sectors
