Held that where an assessee has all along been following the completed contract method and the Department has accepted it over several years, the method of accounting cannot be substituted by the percentage completion method in the absence of any finding by the Assessing Officer that the completed contract method distorts the profits of a particular year. (AY. 2013-14, 2014-15, 2015-16, 2016-17)
Ekta Housing Pvt. Ltd. v. Dy. CIT (2021) 89 ITR 56 (Mum.)(Trib.)
S. 145 : Method of accounting-Completed contract method-Accepted in earlier years-Method cannot be substituted by the percentage competition method