M/s. KMC Constructions Ltd. Versus Addl. Commissioner of Income-tax - Income Tax - ITAT HYDERABAD - Tri - Estimation of profit - Income from development works Held that - The amounts were recovered by the Government and are paid to the respective authorities - Since the amount was paid on behalf of the assessee, such recovery is included in the operating income and is claimed as an expenditure by debiting to the Profit Loss Account - there is no profit element in respect of the said recoveri................................... Income Tax - Case Laws
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