https://www.taxtmi.com/caselaws?id=418505 The Tribunal upheld the Assessing Officer's decision, rejecting the revised return of income and sustaining the addition proposed. The Tribunal emphasized that changes in the accounting method must be reflected in the financial statements. Revenue recognition should align with the joint development agreement terms, based on gross sales by TATA Housing, not the project's completion stage. The appeal filed by the Revenue was allowed, and the revised return of income was not accepted. en-us Mon, 07 Feb 2022 00:00:00 +0530 Fri, 18 Feb 2022 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418505 The Tribunal upheld the Assessing Officer's decision, rejecting the revised return of income and sustaining the addition proposed. The Tribunal emphasized that changes in the accounting method must be reflected in the financial statements. Revenue recognition should align with the joint development agreement terms, based on gross sales by TATA Housing, not the project's completion stage. The appeal filed by the Revenue was allowed, and the revised return of income was not accepted. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418505