https://www.taxtmi.com/caselaws?id=77569 The High Court upheld the decision in favor of the respondent-assessee, emphasizing that the method adopted for accounting work-in-progress was fair and reasonable. The Court noted that the profits exceeded 10% and the accounts were properly maintained, supporting the assessee's position. The Court affirmed the Tribunal's decision to exclude the value of work-in-progress in computing the assessee's income for the relevant assessment year. en-us Wed, 15 Jul 2009 00:00:00 +0530 Wed, 07 Sep 2011 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77569 The High Court upheld the decision in favor of the respondent-assessee, emphasizing that the method adopted for accounting work-in-progress was fair and reasonable. The Court noted that the profits exceeded 10% and the accounts were properly maintained, supporting the assessee's position. The Court affirmed the Tribunal's decision to exclude the value of work-in-progress in computing the assessee's income for the relevant assessment year. Case-Laws Income Tax Wed, 15 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77569