https://www.taxtmi.com/caselaws?id=266785 Whether the Tribunal erred in deleting an addition by directing computation of profits by a recognized accounting method - the court held that the dominant issue was conformity with recognized accounting methods (project completion/percentage completion). Relying on precedent that project completion is a recognized method and noting no statutory prohibition in the IT Act against its use, and that the assessee consistently applied that method, the approach of the CIT(A) and the Tribunal was lawful; consequently the addition was correctly deleted and the appeal is decided in favour of the assessee. en-us Thu, 13 Aug 2015 00:00:00 +0530 Wed, 14 Jan 2026 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266785 Whether the Tribunal erred in deleting an addition by directing computation of profits by a recognized accounting method - the court held that the dominant issue was conformity with recognized accounting methods (project completion/percentage completion). Relying on precedent that project completion is a recognized method and noting no statutory prohibition in the IT Act against its use, and that the assessee consistently applied that method, the approach of the CIT(A) and the Tribunal was lawful; consequently the addition was correctly deleted and the appeal is decided in favour of the assessee. Case-Laws Income Tax Thu, 13 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266785