Assessee company was engaged in construction of flats and residential units on land owned by it consistently following revenue recognition method by adopting completed project method, wherein revenue was recognized at time of sale of flats /residential units by way of registered sale deed in favour of customers. For relevant year, assessment was completed by accepting method of accounting adopted by assessee.  Commissioner passed a revisional order rejecting assessee’s method of accounting based on AS-7-Commissioner also directed Assessing Officer for de novo assessment by applying percentage completion method as mandated by section 43CB. On appeal the Tribunal held that as per section 43CB, profits and gains of a construction company arising from construction contract or a contract for providing services shall be determined on basis of percentage completion method and same is mandatory for revenue recognition with effect from 01-04-2017 i. e. assessment year 2017-18 and, thus, said method was not mandatory and compulsory to be followed in assessment year in question, therefore, Commissioner could not revisit assessment order passed in case of assessee by pressing into service provisions of section 43CB. Accordingly the revision order was set aside. (AY. 2013-14)