https://www.taxtmi.com/caselaws?id=63238 The Tribunal set aside the orders of the CIT(A) and AO, remanding the matter back to the AO for a fresh assessment. The AO was directed to thoroughly examine the method of accounting followed by the assessee, determine if the method is recognized, conduct necessary inquiries, consider relevant accounting standards and judicial precedents, and provide the assessee with an opportunity to present supporting material. The appeals were allowed for statistical purposes, emphasizing the need for a detailed and fair reassessment of the assessee's income from turnkey projects. en-us Tue, 15 Jul 1997 00:00:00 +0530 Fri, 28 Jan 2011 16:17:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63238 The Tribunal set aside the orders of the CIT(A) and AO, remanding the matter back to the AO for a fresh assessment. The AO was directed to thoroughly examine the method of accounting followed by the assessee, determine if the method is recognized, conduct necessary inquiries, consider relevant accounting standards and judicial precedents, and provide the assessee with an opportunity to present supporting material. The appeals were allowed for statistical purposes, emphasizing the need for a detailed and fair reassessment of the assessee's income from turnkey projects. Case-Laws Income Tax Tue, 15 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63238