https://www.taxtmi.com/caselaws?id=122556 The Tribunal allowed the assessee's appeal, affirming the project completion method for income recognition over the percentage completion method. The Tribunal emphasized that developers can only recognize profit upon project completion and sale, rejecting the Assessing Officer's change in method. Additionally, the Tribunal dismissed the revenue's appeal on net profit estimation as infructuous, given the decision on the primary issue. en-us Fri, 18 Dec 2009 00:00:00 +0530 Sat, 07 Oct 2023 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122556 The Tribunal allowed the assessee's appeal, affirming the project completion method for income recognition over the percentage completion method. The Tribunal emphasized that developers can only recognize profit upon project completion and sale, rejecting the Assessing Officer's change in method. Additionally, the Tribunal dismissed the revenue's appeal on net profit estimation as infructuous, given the decision on the primary issue. Case-Laws Income Tax Fri, 18 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122556