banner_ad

Appeal agains order of ACIT

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
07 December 2009 Our company is a construction company we have follow mercantile system and perc. completion method but we have not included land cost in WIP which is first year of project. Noe ACIT add land cost in the income and issue the demand please whether land cost is includible or not if any case please specify.

Regards,
C.A.Nitin
Profile Image

CA SURENDRA KUMAR RAKHECHA

Profile Image

CA SURENDRA KUMAR RAKHECHA (Expert)
07 December 2009 The facts of the case are not clear. Who owns the land and how it has been taken into the books ?

If land is shown in the balance sheet; then no addition can be made.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
07 December 2009 land is purchased by the company and company has taken into the books
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details