Dismissing the appeal of the revenue the Court held that , though the income was offered in the course of survey , as the assessee is in the business of construction which is following project completion method , income could be taxed only when sale deeds of units sold were registered even though sale consideration have been received earlier from buyer .
CIT v.Happy Home Corporation ( 2018) 256 Taxman 214 ( Guj) (HC).Editorial: SLP of revenue is dismissed , CIT v Happy Home Corporation ( 2019) 261 Taxman 555 ( SC)
S.145: Method of accounting -Project completion method- Disclusure in the course of survey-Construction business- Income could be taxed only when sale deeds of units sold were registered even though sale consideration have been received earlier from buyer .[S.133A]