Tag: percentage completion method

Once a method of recognizing revenue accepted by revenue in earlier and later years, same cannot be disturbed for the intervening year- ITAT In a recent judgment, ITAT has quashed a revisionary order holding that Once a method of recognizing revenue accepted by revenue in earlier and later …

AO was not justified in applying accounting method followed by a different assessee and rejecting Percentage of completion method consistently applied which had been accepted by Revenue in past- ITAT ABCAUS Case Law Citation: ABCAUS 2474 (2018) 08 ITAT Important Case Laws Cited/relied upon: Investment Ltd V/s CIT …