Section 43CB which provides that profits and gains arising from a construction contract or a contract for providing services shall be determined on basis of percentage of completion method in accordance with income computation and disclosure standards was inserted by Finance Act, 2018 with effect from 1-4-2017 and thus, assessee could not have been thrust upon percentage of completion method of accounting by Assessing Officer. However, percentage completion method and completed contract method were both acceptable method for accounting of construction contract in impugned assessment year and since project was incomplete and in substance if assessee wished to offer for taxation its gain on completion of project i.e. apply completed contract method, same could not have been rejected.  (AY. 2014-15)