https://www.taxtmi.com/caselaws?id=794504 Revised project cost estimates, TDR/development rights allocation, GST impact, and profit recognition under the Percentage Completion Method required fresh factual verification because the lower authorities had not fully examined the revised basis claimed by the assessee. The Tribunal noted that the effect of floor-plan changes, revised GST regime and denial of input tax credit, phase-wise acquisition and use of development rights, and consistency of revenue recognition with registered agreements and cost base were all fact-dependent matters. It found that neither outright rejection nor acceptance without exhaustive inquiry was justified, so the matter was set aside and restored to the AO for de novo adjudication. en-us Tue, 19 May 2026 00:00:00 +0530 Tue, 07 Jul 2026 08:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794504 Revised project cost estimates, TDR/development rights allocation, GST impact, and profit recognition under the Percentage Completion Method required fresh factual verification because the lower authorities had not fully examined the revised basis claimed by the assessee. The Tribunal noted that the effect of floor-plan changes, revised GST regime and denial of input tax credit, phase-wise acquisition and use of development rights, and consistency of revenue recognition with registered agreements and cost base were all fact-dependent matters. It found that neither outright rejection nor acceptance without exhaustive inquiry was justified, so the matter was set aside and restored to the AO for de novo adjudication. Case-Laws Income Tax Tue, 19 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794504