https://www.taxtmi.com/caselaws?id=399295 The Tribunal allowed the appeal in favor of the assessee for AY 2016-17, overturning the addition of discrepancies in income and TDS by the AO. The Tribunal held that the joint development agreement permitted income recognition using the percentage of completion method, emphasizing the active role of the assessee in the development venture. The discrepancy between form 26AS and the profit/loss account alone was deemed insufficient for the addition. The Tribunal directed the AO to remove the disputed amount, ruling in favor of the assessee on March 9, 2020, in Chennai. en-us Mon, 09 Mar 2020 00:00:00 +0530 Thu, 08 Oct 2020 11:43:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399295 The Tribunal allowed the appeal in favor of the assessee for AY 2016-17, overturning the addition of discrepancies in income and TDS by the AO. The Tribunal held that the joint development agreement permitted income recognition using the percentage of completion method, emphasizing the active role of the assessee in the development venture. The discrepancy between form 26AS and the profit/loss account alone was deemed insufficient for the addition. The Tribunal directed the AO to remove the disputed amount, ruling in favor of the assessee on March 9, 2020, in Chennai. Case-Laws Income Tax Mon, 09 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399295