https://www.taxtmi.com/caselaws?id=405344 The assessee's appeal was allowed, and the Revenue's appeal was dismissed. The Tribunal upheld the consistent method of accounting followed by the assessee, allowing deductions for repair and maintenance expenses and provisions towards cost on completed and incomplete contracts. The Tribunal also ruled in favor of the assessee regarding the taxation of income under the Percentage of Completion Method and Completed Contract Method, as well as the deductibility of Education Cess and Higher and Secondary Education Cess. Interest levied under sections 234B and 234D was considered consequential. en-us Tue, 16 Mar 2021 00:00:00 +0530 Thu, 18 Mar 2021 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405344 The assessee's appeal was allowed, and the Revenue's appeal was dismissed. The Tribunal upheld the consistent method of accounting followed by the assessee, allowing deductions for repair and maintenance expenses and provisions towards cost on completed and incomplete contracts. The Tribunal also ruled in favor of the assessee regarding the taxation of income under the Percentage of Completion Method and Completed Contract Method, as well as the deductibility of Education Cess and Higher and Secondary Education Cess. Interest levied under sections 234B and 234D was considered consequential. Case-Laws Income Tax Tue, 16 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405344