ITO v. Shanti Constructions (2019) 73 ITR 115 (Agra)(Trib.)

S. 145 : Method of accounting-Construction business-Project completion method-Consistently following the method-Department should accept the method.

Tribunal held that the project completion method is one of the recognised methods of accounting and as the assessee had consistently been following such recognised method of accounting in the absence of any prohibition or restriction under the Act for doing so, it could not be held that following the method was erroneous or illegal in any manner. (AY. 2012-13)