cost
of area sold and the estimation of the cost of incomplete work was
made on the basis of available circumstances. The cost of lift ... area developed. The cost of construction has also been
rightly calculated after estimating the cost of incomplete construction
worked. The CIT(A) has concluded that
entire stock is not put
to sale due to incomplete work of construction, hence he held that interest
claimed of `9,31,758/- is divided
raised rather the
incomplete work is put under the head "work in progress". The construction
project where the billing is made after ... completed. As such
at the year end, the work in progress is being prepared for such incomplete
project and if there is increase in work
raised rather the
incomplete work is put under the head "work in progress". The construction
project where the billing is made after ... completed. As such
at the year end, the work in progress is being prepared for such incomplete
project and if there is increase in work
lacs
was made on account of provision for incomplete work shown of Rs.43
lac. This issue was adjudged by learned Commissioner of Income ... holding that there is no construction
expenses during the year addition and it is carried forward provision
for incomplete work from previous year
Emaar Mgf Construction Pvt. Ltd., New ... vs Acit, New Delhi on 26 December, 2019
IN
picture without insertion of above Clause (c) was incomplete as the section did not deal with a situation where enhanced compensation is reduced in further ... construction to accomplish purpose and object of the enactment. Principle of reasonable construction by treating a provision as retrospective, on the ground that such construction
incomplete reading of that explanation ignoring exceptions. Hence It is necessary to
examine the nature of work carried out by the assessee ... From the nature of work carried out by
the assessee it is apparent that it has got the consultancy work related to laying down
that in absence of any business income, project being
incomplete, general expense are disallowable is contrary to well settled legal
principles. It is the setting ... construction of
mall is essential for that. I find that construction was in full swing which is
evident by the fact that capital work
Parkash Industries Ltd., Hisar vs Department Of Income Tax on 12 April, 2010
IN THE
