https://www.taxtmi.com/caselaws?id=215272 The ITAT upheld the CIT(A)'s decision that AS-9 applies to the real estate developer, not AS-7. The assessee correctly used the "Completed Contract Method" for revenue recognition, and the AO's income estimation was deemed unjustified. The Revenue's appeals for both assessment years were dismissed. en-us Mon, 25 Jun 2012 00:00:00 +0530 Mon, 30 Jul 2012 07:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215272 The ITAT upheld the CIT(A)'s decision that AS-9 applies to the real estate developer, not AS-7. The assessee correctly used the "Completed Contract Method" for revenue recognition, and the AO's income estimation was deemed unjustified. The Revenue's appeals for both assessment years were dismissed. Case-Laws Income Tax Mon, 25 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215272