{"id":32629,"date":"2023-02-10T12:19:46","date_gmt":"2023-02-10T06:49:46","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-salarpuria-simplex-dwelling-llp-2022-289-taxman-264-216-dtr-425-cal-hc\/"},"modified":"2024-02-02T06:16:00","modified_gmt":"2024-02-02T00:46:00","slug":"pcit-v-salarpuria-simplex-dwelling-llp-2022-289-taxman-264-216-dtr-425-cal-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-salarpuria-simplex-dwelling-llp-2022-289-taxman-264-216-dtr-425-cal-hc\/","title":{"rendered":"PCIT v. Salarpuria Simplex Dwelling LLP. (2022) 289 Taxman 264 \/ 216 DTR 425 (2023) 455 ITR 712(Cal.)(HC)"},"content":{"rendered":"<p>Assessee is\u00a0 engaged in business of development of property\u00a0 It had followed project completion method which had been accepted by department in assessment year 2014-15.\u00a0 For the assessment year\u00a0\u00a0 2015-16 the Assessing Officer held that assessee was a mere contractor and it ought to have adopted percentage completion method as per AS-7. CIT (A) held that the assessee had been consistently following project completion method which had been accepted by department reversed order passed by Assessing Officer. Order of CIT (A) was affirmed by the Tribunal. On appeal by Revenue, High Court affirmed the order of the Tribunal. (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 145 : Method of accounting-Construction and development of property-Project completion method-Principle of consistency-Not justified in adopting percentage completion method. <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-32629","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8uh","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=32629"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32629\/revisions"}],"predecessor-version":[{"id":38794,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32629\/revisions\/38794"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=32629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=32629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=32629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}