https://www.taxtmi.com/caselaws?id=279245 The Tribunal dismissed the Revenue's appeal for Assessment Year 2007-08 and allowed the assessee's appeal for Assessment Year 2009-10, upholding the project completion method for income recognition in line with the assessee's business as a real estate developer. The Tribunal determined that the assessee's business nature as a real estate developer justified the use of the project completion method over the percentage completion method advocated by the Revenue, emphasizing the importance of consistently following a recognized accounting method. en-us Tue, 27 Sep 2016 00:00:00 +0530 Sat, 09 Mar 2019 07:01:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279245 The Tribunal dismissed the Revenue's appeal for Assessment Year 2007-08 and allowed the assessee's appeal for Assessment Year 2009-10, upholding the project completion method for income recognition in line with the assessee's business as a real estate developer. The Tribunal determined that the assessee's business nature as a real estate developer justified the use of the project completion method over the percentage completion method advocated by the Revenue, emphasizing the importance of consistently following a recognized accounting method. Case-Laws Income Tax Tue, 27 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279245