Assessee a developer. Agreement for construction of  hotel building and sale. Assessee offering income based on percentage completion method. 39.89 Per Cent. of  work completed and 39.89 Per Cent. of  contract value offered as revenue on reduced contract value. Tribunal held that reduction in cost by registered deed because assessee could not complete construction within time and purchaser deciding to complete remaining construction itself.   Assessing Officer is directed to   recalculate revenue taking into consideration reduced cost.(AY.  2010-11, 2011-12)