{"id":39124,"date":"2024-02-12T14:39:20","date_gmt":"2024-02-12T09:09:20","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-salarpuria-simplex-dwelling-llp-2023455-itr-712-2022-143-taxmann-com-35-calhc\/"},"modified":"2024-02-12T14:39:20","modified_gmt":"2024-02-12T09:09:20","slug":"pcit-v-salarpuria-simplex-dwelling-llp-2023455-itr-712-2022-143-taxmann-com-35-calhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-salarpuria-simplex-dwelling-llp-2023455-itr-712-2022-143-taxmann-com-35-calhc\/","title":{"rendered":"PCIT v. Salarpuria Simplex Dwelling LLP (2023)455 ITR 712 \/(2022) 143 taxmann.com 35 (Cal)(HC)"},"content":{"rendered":"<p>The assessee followed the project completion method.\u00a0 The\u00a0 Assessing Officer held that the assessee is a mere contractor hence percentage completion method should be followed instead of the project completion method followed\u00a0 as per Accounting Standard 7. The CIT(A)) and Tribunal allowed the appeal of the aassessee. On appeal to High Court the dismissing the appeal of the Revenue the Court held that the project completion method was followed by the assessee and had been accepted by the Department. Thus, applying the principle of consistency, the rejection of the method of accounting was not justified. (AY.2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 145 : Method of accounting-Development of  property-Project completion method-Percentage completion method-Accepted in earlier year-Rejection  of method in latter year is not justified. [Accounting Standard, 7, &amp; 9] <\/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-39124","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ab2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39124","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=39124"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39124\/revisions"}],"predecessor-version":[{"id":39125,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39124\/revisions\/39125"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=39124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=39124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=39124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}