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2015 (1) TMI 1500 - AT - Income TaxRejection of books of account u/s 145(3) - applying percentage completion method in place of project completion method followed by the assessee - Addition made on change of method - HELD THAT:- The issue in question is squarely covered by ITAT Jaipur Bench consolidated for assessment year 2003-04 to 2006-07, 2009-10, 2007-08 & 2008-09 and assessment year 2007-08 to 2009-10 wherein the rejection of books of account u/s 145(3) of the Act have been held to be not proper and assessee's method of accounting i.e. project completion method has been upheld by following observations by this Bench of ITAT in its group cases. Thus we uphold the rejection of books of account of the assessee and method of accounting of percentage completion method as followed by this Bench of ITAT in assessee's group of cases. Thus in the entirety of the facts and circumstances, the additions are deleted and the appeals of the assessee are allowed.
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