2025 (6) TMI 397

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.... For the Appellant : Sri. Govind G.Nair, Advocate For the Respondent : Smt. Leena Lal, Senior AR ORDER PER PRAKASH CHAND YADAV, JM : These three appeals of the assessee are arising from the orders of the CIT(A) dated 26th September, 2022 and 30th September, 2022, and relates to assessment years 2002-2003, 2003-2004 and 2005-2006, respectively. 2. There is a delay of 48 days in fi....

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....r on account of attribution of profits received by the assessee as project advance. So far as the legal grounds are concerned, we do not find any force in the arguments of the assessee and hence the reopening of the assessment is upheld. Coming to the merits of the case, we observe that the issue involved in this appeal is squarely covered by the decision of the co-ordinate Bench in assessee's own....

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....ubsequent assessment year, though the model was approved, the assessee could not start its work and the project could not be completed. Still, the assessee recognized 50% of the project advance as income. This Tribunal is of the considered opinion that the project work started when the assessee started working on the modeling on the basis of the orders placed by the customer on payment of project ....