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2021 (10) TMI 170 - KARNATAKA HIGH COURTCompletion Contract Method or the percentage Completion Contract Method for computation of income - Whether the percentage contract completion method is applicable to a developer? - HELD THAT:- Whether the completion Contract Method or the percentage Completion Contract Method for computation of income has to be adopted requires fair adjudication on the basis of facts. Therefore, the orders dated 27.08.2013 and 23.09.2013 passed by the CIT (Appeals) and so far the order of the AO vide orders dated 29.11.2010 and 16.12.2011 so far as it pertains to issue No.1 are hereby quashed and the matter is remanded to the Tribunal for decision afresh in accordance with law. It is needless to state that it will be open for both the parties to raise all contention as made available in law.
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