https://www.taxtmi.com/caselaws?id=303563 The Tribunal upheld the decision to dismiss the revenue's appeal in a dispute over changing the accounting method from Project Completion Method to Percentage Completion Method for income computation. It emphasized the consistency of the appellant's chosen method, which had been accepted in previous years, and highlighted that the Assessing Officer did not reject the books of accounts. Referring to legal provisions and precedents, the Tribunal concluded that the Revenue's attempt to invoke the Percentage Completion Method was unjustified. The judgment favored the assessee, dismissing the cross-objections raised by the revenue. en-us Fri, 29 May 2020 00:00:00 +0530 Sat, 30 Jul 2022 08:28:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303563 The Tribunal upheld the decision to dismiss the revenue's appeal in a dispute over changing the accounting method from Project Completion Method to Percentage Completion Method for income computation. It emphasized the consistency of the appellant's chosen method, which had been accepted in previous years, and highlighted that the Assessing Officer did not reject the books of accounts. Referring to legal provisions and precedents, the Tribunal concluded that the Revenue's attempt to invoke the Percentage Completion Method was unjustified. The judgment favored the assessee, dismissing the cross-objections raised by the revenue. Case-Laws Income Tax Fri, 29 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303563