Dismissing the appeal of the revenue , the court held that , Income in respect of sale of flats is accrued when possession was given of the flat and not when the allotment letter was issued .(ITA No .853 of 2015 dt.30 -01-2018 )(AY. 2007 -08)
CIT v. Millennium Estate Pvt Ltd ( Bom) (HC) ( 2018) 93 taxmann. com 41/BCAJ -April-P.74
S. 4 : Charge of income-tax -Accrual- Contractor- Income in respect of sale of flats is accrued when possession was given of the flat and not when the allotment letter was issued [ S.145]