https://www.taxtmi.com/caselaws?id=424046 The Tribunal set aside the lower authorities' decisions disallowing 20% of salaries as project costs and rejecting revenue recognition under the percentage completion method. The Tribunal found the lower authorities lacked proper reasoning and application of mind, deeming the actions unsustainable. Consequently, the disallowance/addition made by the Assessing Officer was deleted, and the appeal by the assessee was allowed. en-us Thu, 09 Jun 2022 00:00:00 +0530 Tue, 21 Jun 2022 08:56:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424046 The Tribunal set aside the lower authorities' decisions disallowing 20% of salaries as project costs and rejecting revenue recognition under the percentage completion method. The Tribunal found the lower authorities lacked proper reasoning and application of mind, deeming the actions unsustainable. Consequently, the disallowance/addition made by the Assessing Officer was deleted, and the appeal by the assessee was allowed. Case-Laws Income Tax Thu, 09 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424046