https://www.taxtmi.com/caselaws?id=417415 The Tribunal partly allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 72,78,238, as the lower authorities' orders were reversed based on the merits of the case. The Tribunal emphasized compliance with accounting standards and principles and rejected the Department's argument of non-cooperation by the assessee. The completed contract method for revenue recognition was upheld, and the allegation of violation of natural justice principles was dismissed. The discrepancy between Form No. 26AS and the books of account was reconciled, leading to the decision in favor of the assessee. en-us Tue, 11 Jan 2022 00:00:00 +0530 Sat, 22 Jan 2022 08:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417415 The Tribunal partly allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 72,78,238, as the lower authorities' orders were reversed based on the merits of the case. The Tribunal emphasized compliance with accounting standards and principles and rejected the Department's argument of non-cooperation by the assessee. The completed contract method for revenue recognition was upheld, and the allegation of violation of natural justice principles was dismissed. The discrepancy between Form No. 26AS and the books of account was reconciled, leading to the decision in favor of the assessee. Case-Laws Income Tax Tue, 11 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417415