https://www.taxtmi.com/caselaws?id=784280 The dominant issue was whether income from a landowner's revenue share under a JDA accrued during construction requiring adoption of the percentage completion method, or only on project completion upon transfer of title. The Tribunal held that revenue accrues only when significant risks and rewards pass to ultimate purchasers, which, for immovable property, occurs upon execution and registration of the sale deed; advance bookings/receipts remain liabilities until possession and registered conveyance. As the landowner merely licensed development to a separate developer and had consistently followed the project completion method, the Revenue could not mandate percentage completion merely because the developer used it. The addition for alleged accrual was rejected and the first appellate order was upheld. en-us Fri, 19 Dec 2025 00:00:00 +0530 Wed, 31 Dec 2025 14:56:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784280 The dominant issue was whether income from a landowner's revenue share under a JDA accrued during construction requiring adoption of the percentage completion method, or only on project completion upon transfer of title. The Tribunal held that revenue accrues only when significant risks and rewards pass to ultimate purchasers, which, for immovable property, occurs upon execution and registration of the sale deed; advance bookings/receipts remain liabilities until possession and registered conveyance. As the landowner merely licensed development to a separate developer and had consistently followed the project completion method, the Revenue could not mandate percentage completion merely because the developer used it. The addition for alleged accrual was rejected and the first appellate order was upheld. Case-Laws Income Tax Fri, 19 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784280