https://www.taxtmi.com/caselaws?id=396616 Dispute concerns applicability of the completed contract method under the mercantile system after amendment to Section 145. Tribunal and CIT(A) relied on prior departmental acceptance and precedent to hold the assessing officer lacked justification to abandon the assessees previously adopted completed contract method and compute income on an estimate basis; the tribunal considered the effect of Section 145. The discussion emphasises consistency in accounting method, recognition of completed contract accounting where accepted historically, and limits on recharacterisation of accounting practice by assessing authorities. en-us Wed, 08 Jul 2020 00:00:00 +0530 Thu, 29 Jan 2026 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396616 Dispute concerns applicability of the completed contract method under the mercantile system after amendment to Section 145. Tribunal and CIT(A) relied on prior departmental acceptance and precedent to hold the assessing officer lacked justification to abandon the assessees previously adopted completed contract method and compute income on an estimate basis; the tribunal considered the effect of Section 145. The discussion emphasises consistency in accounting method, recognition of completed contract accounting where accepted historically, and limits on recharacterisation of accounting practice by assessing authorities. Case-Laws Income Tax Wed, 08 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396616