https://www.taxtmi.com/caselaws?id=787213 Revenue recognition under the project completion method and AS-9 was determinative: revenue cannot be recognised for unsold units where no agreement created enforceable contractor contractee obligations and substantial risks had not transferred; documentary evidence and prior acceptance of accounts undermined the AO's rejection of books and extrapolation of sales to unsold area. The appellate authority, supported by a High Power Committee finding that the AO's extrapolation was unsound, deleted the addition and the Revenue's appeal was dismissed. en-us Tue, 17 Feb 2026 00:00:00 +0530 Sat, 28 Feb 2026 08:41:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787213 Revenue recognition under the project completion method and AS-9 was determinative: revenue cannot be recognised for unsold units where no agreement created enforceable contractor contractee obligations and substantial risks had not transferred; documentary evidence and prior acceptance of accounts undermined the AO's rejection of books and extrapolation of sales to unsold area. The appellate authority, supported by a High Power Committee finding that the AO's extrapolation was unsound, deleted the addition and the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 17 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787213