ARYACON CONTRACTORS AND ENGINEERS PVT LTD,PERUMBAVOOR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-1, ALUVA
In the result, appeal filed by the assessee is partly allowed for statistical purposes
ITA 853/COCH/2023[AY 2017-2018]Status: DisposedITAT Cochin06 Jan 2025
Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessmentyear:2017-18
For Appellant: Shri. Thomas Joseph, CAFor Respondent: Smt. Leena Lal, Snr AR
Section 143(2)Section 143(3)Section 250Section 43C
dividends or capital gains.”
The above computation of income from construction and service contracts is inserted by the Finance Act, 2018 with retrospective effect from 01.04.2017 and will accordingly apply from the AY
2017-18. On plain reading of the provision above, it is clear thatthe contract revenue shall include retention money.
ITANo. 853/Coch/2023
Aaryacon, Kerala
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