Tribunal held that the revenue had accepted accumulation for previous assessment years 2005-05 and 2005-06 and this was third year of accumulation under projects. The Assessing Officer was not justified in rejecting the completion project method followed by the assesseee. (AY. 2008-09)
UHDE India (P.) Ltd. v. ACIT (2021) 190 ITD 777/ 211 TTJ 339 (Mum.) (Trib.)
S. 145 : Method of accounting-Business of supply of processes, designing, construction etc.-completed contract method of accounting-Rejection of books of account is held to be not justified.