https://www.taxtmi.com/caselaws?id=325456 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions. The rejection of books of accounts under Section 145(3) was deemed improper due to consistent adherence to the percentage completion method. Regarding the disallowance of bank guarantee commission under Section 40(a)(1), it was held that no TDS was required as the foreign bank had no Permanent Establishment in India. The Tribunal emphasized accounting consistency and clarified the treatment of bank guarantee commissions. The decision was pronounced on 05th February 2016. en-us Fri, 05 Feb 2016 00:00:00 +0530 Mon, 21 Nov 2016 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325456 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decisions. The rejection of books of accounts under Section 145(3) was deemed improper due to consistent adherence to the percentage completion method. Regarding the disallowance of bank guarantee commission under Section 40(a)(1), it was held that no TDS was required as the foreign bank had no Permanent Establishment in India. The Tribunal emphasized accounting consistency and clarified the treatment of bank guarantee commissions. The decision was pronounced on 05th February 2016. Case-Laws Income Tax Fri, 05 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325456