https://www.taxtmi.com/caselaws?id=780983 ITAT held the assessee's appeal allowed and deleted the AO's addition that revenue should have been recognized on percentage-completion basis. The Tribunal found the projects were not in substance construction contracts and buyers did not acquire risks and rewards before legal title/possession, as per the ICAI guidance note and AS-9; the Revenue failed to produce agreements or rebuttable evidence to show otherwise. Consequently, project-completion accounting applied and the addition was directed to be deleted. en-us Wed, 27 Aug 2025 00:00:00 +0530 Mon, 10 Nov 2025 08:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780983 ITAT held the assessee's appeal allowed and deleted the AO's addition that revenue should have been recognized on percentage-completion basis. The Tribunal found the projects were not in substance construction contracts and buyers did not acquire risks and rewards before legal title/possession, as per the ICAI guidance note and AS-9; the Revenue failed to produce agreements or rebuttable evidence to show otherwise. Consequently, project-completion accounting applied and the addition was directed to be deleted. Case-Laws Income Tax Wed, 27 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780983