https://www.taxtmi.com/caselaws?id=362987 The High Court upheld the Tribunal's decision in a tax appeal case, confirming the validity of the respondent firm's Project Completion Method of accounting. The Court agreed that income should be recognized for taxation upon completion of sale deeds, as per the firm's accounting practice. The Tribunal's ruling to delete the addition of undisclosed income by the Assessing Officer was affirmed, emphasizing the consistency of the firm's approach. The Court dismissed the Revenue's appeal, supporting the Tribunal's decision regarding the timing of income recognition. en-us Wed, 09 May 2018 00:00:00 +0530 Fri, 13 Mar 2026 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362987 The High Court upheld the Tribunal's decision in a tax appeal case, confirming the validity of the respondent firm's Project Completion Method of accounting. The Court agreed that income should be recognized for taxation upon completion of sale deeds, as per the firm's accounting practice. The Tribunal's ruling to delete the addition of undisclosed income by the Assessing Officer was affirmed, emphasizing the consistency of the firm's approach. The Court dismissed the Revenue's appeal, supporting the Tribunal's decision regarding the timing of income recognition. Case-Laws Income Tax Wed, 09 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362987