https://www.taxtmi.com/caselaws?id=412533 The Appellate Tribunal ITAT DELHI upheld the assessee's revenue recognition method using the Percentage of Completion (POC) method for the assessment years 2008-09 and 2009-10. The Tribunal dismissed the Revenue's challenge, citing previous decisions supporting the assessee's method. Additionally, the Tribunal ruled in favor of the assessee regarding the addition of notional interest on investments in subsidiaries, directing the deletion of deemed interest additions based on the assessee's substantial own funds. The Tribunal also upheld the deletion of disallowance of interest under section 14A of the Income-tax Act, 1961. en-us Thu, 12 Aug 2021 00:00:00 +0530 Mon, 20 Sep 2021 10:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412533 The Appellate Tribunal ITAT DELHI upheld the assessee's revenue recognition method using the Percentage of Completion (POC) method for the assessment years 2008-09 and 2009-10. The Tribunal dismissed the Revenue's challenge, citing previous decisions supporting the assessee's method. Additionally, the Tribunal ruled in favor of the assessee regarding the addition of notional interest on investments in subsidiaries, directing the deletion of deemed interest additions based on the assessee's substantial own funds. The Tribunal also upheld the deletion of disallowance of interest under section 14A of the Income-tax Act, 1961. Case-Laws Income Tax Thu, 12 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412533