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2011 (9) TMI 745 - HC - Income TaxConstruction Business - deletion of 8% of the work in progress from assessment of income. - "Project Completed Method OR Completed Contract Method" - Books of account maintained - Held That:- Once the books of account were maintained, it is the 'Project Completion method' which has to be followed. - In view of H.M. Constructions (2001 -TMI - 57617 - ITAT BANGALORE ), the defects pointed out do not relate to the receipts, income, method of accounting and also work in progress, project completion method to be followed.
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