Section 43CB

What section 43CB does, and where it sits. This library holds no authority that turns on it.

No authority in this library turns on Section 43CB. That is a statement about this library and not about the law: it means no judgment, circular or instruction held here decides a point under it. What the provision does is explained below. If you are looking for a decision on it, say so through the search box — a provision people search for and we hold nothing on is the most useful thing we can be told.

Explained in this library

What section 43cb does, in plain English, before you read what the courts made of it.

ICDS govern the computation, not the books — and ICDS II is where that bites first

Which of my clients do the ICDS actually bind, what do the ten standards cover, and what does ICDS II change about the way I value inventory?

s.43CB: percentage of completion, and the ninety-day service contract

My construction client wants to offer profit only when the project is handed over. Can he, and does the same rule apply to a service contract?

You choose the method; he has to prove it distorts profits

Can the Assessing Officer simply substitute a different method of accounting because he thinks it reflects my income better?