Provisions made for exp. to be incurred to complete flats which were already sold allowable: ITAT

INCOME TAX: Where assessee, engaged in business of real estate development, sold bare flats and made provision for expenses to be incurred to complete such sold out flats, since assessee had duly filed relevant documents such as architect's certificate, site engineer architect's estimation so as to prove that assessee had incurred such expenses on sold out flats, no revision to be made so as to disallow such provision considering same as unascertained liability

from www.taxmann.com Latest Case Laws https://ift.tt/2unp1hr