Appeal agains order of ACIT
This query is : Resolved
Querist : Anonymous
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
Regards,
C.A.Nitin
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.
If land is shown in the balance sheet; then no addition can be made.
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2009
land is purchased by the company and company has taken into the books
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