assessee recognizes revenue on Percentage of Completion Method
(POCM) in accordance with Accounting Standard 7. While recognizing
revenue of POCM basis, yearly gross margins from ... assessee
recognizes revenue on Percentage of Completion Method (POCM) in
accordance with Accounting Standard 7. While recognizing revenue of
POCM basis, yearly gross margins from
Brokerage & Commission 111 128 17,12,33,363.00
9 TOR-18 POCM 128 202 33,99,87,214.00
10 TOR-8 IDC-Greater Kailash ... disallowance of
revenue recognition as per POCM.
10. Whether the CIT(A) under the facts and circumstances of the
case and in law was justified
also recognised revenue from
constructed properties by following Percentage of Completion
Method (POCM) as done in the previous years. The
accounting policy adopted ... 6801/DEL/2014 11
3 POCM Profit 202.45 982.62
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
53. It is seen that in accordance with the notified
accounting standards
policy of the assessee and
without disputing the Project Of Completion Method (POCM)
adopted by the assessee and without rejecting the books of
accounts ... dispute
that the assessee has been following the Project Of Completion
Method (POCM) and the AO never raised any objection for the
same. Undisputed facts
Actually Project Loss
project spent Completed
as per Entitled Loss Loss to
POCM & Loss claimed be
as per Allowed
Audited
Books
