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Ashok Hi – Tech Builders Pvt. Ltd. v. DCIT( Indore)(Trib), www.itatonline.org

S.145:Method of accounting – Real estate construction contracts –Consistency method of accounting- Completed contract- Percentage completion- Accounting Standards AS-7 and AS-9- AO was not justified in applying the percentage completion method on the assessee merely on the basis that it was followed by the developer JSM DPL and arbitrarily making addition to the income ignored the fact that project completion method/ completed contract method of accounting has been consistently adopted by the assessee . [ S. 5,43C]

S.145:Method of accounting – Real estate construction contracts –Consistency method of accounting- Completed contract- Percentage completion- Accounting Standards AS-7 and AS-9-AO was not justified in applying the percentage completion method on the assessee merely on the basis that it was followed by the developer JSM DPL and arbitrarily making addition to the income ignored the fact that project completion method/ completed contract method of accounting has been consistently adopted by the assessee .  [ S. 5,43C]

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