https://www.taxtmi.com/caselaws?id=447753 The ITAT AGRA remitted the case back to the Assessing Officer for fresh consideration regarding profit computation under percentage completion method and expense disallowance. The CIT(A) had deleted the addition, accepting that the director's admission was incorrect and that the percentage completion method was properly applied since the Project Completion Method was not available before 01.04.2003. However, the ITAT found that the CIT(A) considered aspects not previously before the Assessing Officer, violating Rule 46A. The Revenue's appeal was allowed for statistical purposes. en-us Fri, 27 Oct 2023 00:00:00 +0530 Thu, 04 Jan 2024 09:10:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447753 The ITAT AGRA remitted the case back to the Assessing Officer for fresh consideration regarding profit computation under percentage completion method and expense disallowance. The CIT(A) had deleted the addition, accepting that the director's admission was incorrect and that the percentage completion method was properly applied since the Project Completion Method was not available before 01.04.2003. However, the ITAT found that the CIT(A) considered aspects not previously before the Assessing Officer, violating Rule 46A. The Revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 27 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447753