https://www.taxtmi.com/caselaws?id=305114 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition of Rs.82,90,562/-. It was held that AS-9 was the appropriate standard for the real estate developer assessee, and the completed contract method was correctly applied for revenue recognition. The Tribunal acknowledged the risk of double taxation due to the AO's estimation, which was rectified, ensuring proper assessment in AY 2009-10. The appeal was dismissed, and the CIT(A)'s order was upheld. en-us Mon, 05 Aug 2019 00:00:00 +0530 Thu, 17 Nov 2022 21:50:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305114 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition of Rs.82,90,562/-. It was held that AS-9 was the appropriate standard for the real estate developer assessee, and the completed contract method was correctly applied for revenue recognition. The Tribunal acknowledged the risk of double taxation due to the AO's estimation, which was rectified, ensuring proper assessment in AY 2009-10. The appeal was dismissed, and the CIT(A)'s order was upheld. Case-Laws Income Tax Mon, 05 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305114