https://www.taxtmi.com/caselaws?id=300656 The tribunal dismissed the revenue's appeal and the assessee's cross-objection, upholding the CIT(A)'s decisions. The tribunal found the AO's application of the percentage completion method (PCM) and addition for underreporting of income unjustified. Similarly, the addition for suppression of sale receipts on land sales was deemed baseless as the profit disclosed by the assessee was reasonable. The CIT(A)'s orders were upheld as correct interpretations of the facts and accounting standards, resulting in the dismissal of the revenue's appeal. en-us Fri, 31 Aug 2018 00:00:00 +0530 Fri, 18 Feb 2022 07:31:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300656 The tribunal dismissed the revenue's appeal and the assessee's cross-objection, upholding the CIT(A)'s decisions. The tribunal found the AO's application of the percentage completion method (PCM) and addition for underreporting of income unjustified. Similarly, the addition for suppression of sale receipts on land sales was deemed baseless as the profit disclosed by the assessee was reasonable. The CIT(A)'s orders were upheld as correct interpretations of the facts and accounting standards, resulting in the dismissal of the revenue's appeal. Case-Laws Income Tax Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300656