{"id":5757,"date":"2019-06-14T11:24:24","date_gmt":"2019-06-14T11:24:24","guid":{"rendered":"http:\/\/itatonline.org\/digest\/ito-v-shanti-contraction-agratrib-www-itatonline-org\/"},"modified":"2019-07-01T08:39:22","modified_gmt":"2019-07-01T08:39:22","slug":"ito-v-shanti-contraction-agratrib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ito-v-shanti-contraction-agratrib-www-itatonline-org\/","title":{"rendered":"ITO v. Shanti Constructions  (Agra)(Trib.), www.itatonline.org"},"content":{"rendered":"<p><strong>Dismissing the appeal of the revenue the Court held that; Dept&#8217;s argument that assessee should have declared profit on percentage completion method because according to AS-7, revised in 2002 with effect from 01.04.2003, the &#8216;Completed Contract method&#8217; has been scrapped &amp; ICAI guidelines prefer the percentage completion method is not acceptable. Project completion methods held to be valid.<\/strong> Deletion of addition in respect of advance received from customers is held to be valid .( ITA No. 289\/Agra\/2017, dt. 16.05.2019)(AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 145 : Method of accounting-Project Completion Method-Percentage Completion Method-Project completion method is held to be valid- Deletion of addition in respect of advance received from customers is held to be valid. [S. 145(3)]<\/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":[1],"tags":[],"class_list":["post-5757","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1uR","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5757","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=5757"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5757\/revisions"}],"predecessor-version":[{"id":6041,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5757\/revisions\/6041"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=5757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=5757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=5757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}