https://www.taxtmi.com/caselaws?id=200537 The Tribunal dismissed the Revenue's appeal and upheld the decision allowing the builder/developer to use the project completion method for assessment year 2008-09. The Tribunal emphasized the assessee's consistent application of this method in previous years and noted that the projects in question were incomplete during the relevant assessment period. The decision reaffirmed that an assessee can choose a recognized accounting method if consistently followed, leading to the rejection of the Revenue's argument in favor of the percentage completion method. en-us Wed, 18 Jul 2012 00:00:00 +0530 Tue, 03 Apr 2018 17:51:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200537 The Tribunal dismissed the Revenue's appeal and upheld the decision allowing the builder/developer to use the project completion method for assessment year 2008-09. The Tribunal emphasized the assessee's consistent application of this method in previous years and noted that the projects in question were incomplete during the relevant assessment period. The decision reaffirmed that an assessee can choose a recognized accounting method if consistently followed, leading to the rejection of the Revenue's argument in favor of the percentage completion method. Case-Laws Income Tax Wed, 18 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200537