Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (4) TMI 826 - HC - Income TaxEscapement of income - method of accounting followed - Held that:- According to us, as indicated right at the outset, it is not disputed by the Revenue that the Assessee has been consistently following the 'Project Completion Method', for accounting its income. It is also, not disputed before us, by the learned counsel for the Revenue that, except for the assessment years in issue, the said method of accounting has not been assailed by the Revenue.There is no dispute that the project has not been completed as yet. Therefore, having regard to the aforesaid circumstances, in particular, that the method of accounting followed by the appellant is a recognised method of accounting, which has not led to escapment of income, we see no reason to interfere with the impugned judgment and order of the Tribunal. No substantial question of law.
|