2018 (7) TMI 295

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.... BHATT (174) ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal dated 01.06.2017 raising following question for our consideration: "Whether on the facts and the circumstances of the case and in law, the Appellate Tribunal was justified in confirming the findings of the CIT(A) in respect of deleti....

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....d that the same pertained to the income of the current year. While doing so, he added that however, the same would be subject to the registration of the sale deeds. 3. When the assessment was undertaken, the assessee contended that the firm is following Project Completion Method of accounting and the income would be offered to tax as and when the final sale deeds are registered. He offered only....

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.... such income to tax in the later years as and when the sale deeds were executed. The Tribunal thus confirmed this view of the Commissioner of Income Tax (Appeals). 5. The Revenue does not object to the assessee's following Project Completion Method of accounting. The Revenue also does not dispute the findings of the Commissioner of Income Tax (Appeals) that the same income was offered to ta....