https://www.taxtmi.com/caselaws?id=784934 Whether change in accounting method altering stage-of-completion revenue recognition gives rise to taxable underreporting: Tribunal applied accounting and tax principles, noting the change resulted in reversal of previously recognized revenue which was claimed and allowed as a prior-period deduction by the AO and not disturbed on appeal; this is a timing difference with no net tax impact as tax rates remained unchanged and no loss to the exchequer arose. Outcome: addition disallowing profit impact was unwarranted and deleted. Tribunal relied on principle in Excel Industries (SC) regarding timing differences. en-us Fri, 09 Jan 2026 00:00:00 +0530 Wed, 14 Jan 2026 08:56:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784934 Whether change in accounting method altering stage-of-completion revenue recognition gives rise to taxable underreporting: Tribunal applied accounting and tax principles, noting the change resulted in reversal of previously recognized revenue which was claimed and allowed as a prior-period deduction by the AO and not disturbed on appeal; this is a timing difference with no net tax impact as tax rates remained unchanged and no loss to the exchequer arose. Outcome: addition disallowing profit impact was unwarranted and deleted. Tribunal relied on principle in Excel Industries (SC) regarding timing differences. Case-Laws Income Tax Fri, 09 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784934