DT November 2017 Exam Paper

i think retention money should be excluded from income. 

it is to be included. ICDS - III- Construction Contract.

@ Deon Decosta - just get lost. 

If there's a judicial precedent against an ICDS, is it okay to use that judicial precedent ? I used that and gave that as an explanation for reducing retention money from profit and loss 

yes. i also think the same. retention money should be deducted from the income. because already its included in income, but as per judicial pronouncement it should not be included. 

@ sachin - Judicial pronouncements allow you to deduct Retention mone but ICDS doesn't .. So i'm very confused now

Alright so how strict are they with the corrections ? Do they strike off the entire sum ? Coz all the other points i got right except this one. With proper presentation and notes