https://www.taxtmi.com/caselaws?id=801779 Section 43CB and ICDS-III do not apply where a developer bears commercial risk and sells developed units on its own account rather than carrying out construction or services for another person. The Project Completion Method may continue for a project commenced before 1 April 2016 where consistently followed and accepted, subject to the ICDS-III transitional provision. Percentage Completion Method profit cannot be recognised where there is no construction progress and revenue is calculated from cumulative cost and advances while only current-year costs are deducted, creating a mismatch. Enhancement requires prior reasonable opportunity under section 251(2); without separate notice and identifiable corresponding revenue, treating capitalised work-in-progress costs as income is unsustainable. en-us Mon, 05 Oct 2026 00:00:00 +0530 Tue, 27 Oct 2026 08:33:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801779 Section 43CB and ICDS-III do not apply where a developer bears commercial risk and sells developed units on its own account rather than carrying out construction or services for another person. The Project Completion Method may continue for a project commenced before 1 April 2016 where consistently followed and accepted, subject to the ICDS-III transitional provision. Percentage Completion Method profit cannot be recognised where there is no construction progress and revenue is calculated from cumulative cost and advances while only current-year costs are deducted, creating a mismatch. Enhancement requires prior reasonable opportunity under section 251(2); without separate notice and identifiable corresponding revenue, treating capitalised work-in-progress costs as income is unsustainable. Case-Laws Income Tax Mon, 05 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801779