Tax Review—Direct Tax

Abhinav Mittal (), Puneet Agrawal () and Shuchi Agrawal
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Abhinav Mittal: YOG INFRA Advisory Pte. Ltd.
Puneet Agrawal: ALA Legal Advocates and Solicitors

Chapter Chapter 9 in Hybrid Annuity Model (HAM) of Hybrid Public-Private Partnership Projects, 2023, pp 167-198 from Springer

Abstract: Abstract This chapter provides a detailed discussion on Section 43CB of the Indian Income Tax Act, 1961, and the applicability of the Percentage Completion method on the construction contracts. It further elaborates on the Income Computation and Disclosure Standards issued by the Central Government in terms of Section 145 of the Income Tax Act, 1961; and the Constitutional validity of ICDS considering Hon’ble Delhi High court judgment in the matter of the Chamber of Tax Consultants and others. In this Chapter the Author have also aimed to discuss the manner of recognizing revenue and computation of Income in respect of HAM based road PPP projects. Further, in this Chapter the Author have tried highlighting the possible issues that might arise under the Indian Income Tax Act and their possible solutions.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-981-19-2019-6_9

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DOI: 10.1007/978-981-19-2019-6_9

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