2021 (10) TMI 170

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....COUNSEL A/W AND SRI BHAIRAV KUTTAIAH, ADVOCATE RESPONDENT: SRI E.I.SANMATHI, ADVOCATE JUDGMENT Mr. A.Shankar, learned Senior counsel along with Mr. Bhairav Kuttaiah, learned counsel for the assessee. Mr. E.I.Sanmathi, learned counsel for the revenue. 2. This appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act for short) has been preferred by the assessee ....

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....engaged in the business of real estate and development of projects. Assessee filed returns of income for the assessment years 2008-09 and 2009-10 on 30.09.2008 and 30.09.2009, declaring income of Rs. 1,32,11,729/- and Rs. 1,00,31,316/- respectively. 4. The returns filed by the assessee was selected for scrutiny and notices were issued for the assessment year 2008-09. The Assessing Officer complet....

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....me Tax (Appeals) by order dated 23.09.2013 for the assessment year 2009-10 has partly allowed the appeal. The appellant being aggrieved by the order of the Commissioner of Income Tax (Appeals) preferred an appeal before the Income Tax Appellate Tribunal, Bangalore and the same came to be dismissed by an order dated 19.10.2016. In the aforesaid factual backdrop this appeal has been filed. 6. The l....

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....sessing Officer. 8. The aforesaid facts has not been disputed by the learned counsel for the revenue. 9. In view of the submission made by the learned counsel for the parties and taking into consideration that issue No.1 involved in this appeal namely whether the completion Contract Method or the percentage Completion Contract Method for computation of income has to be adopted requires fair adju....