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TMI Blog2002 (5) TMI 512X X X X Extracts X X X X X X X X Extracts X X X X ..... espondent. ORDER G.D. Agrawal, Accountant Member - ITA Nos. 1952 to 1955/Mum./2000 are appeals filed by the assessee for assessment years 1993-94 to 1995-96, while ITA No. 6516/Bom./95 is appeal by the Revenue for assessment year 1992-93. All the appeals are directed against the orders of CIT(A) XXI/VI, Mumbai. Since common issues are involved in all these appeals, they are being disposed of to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and 1990-91 and also the decision of ITAT, Mumbai Bench, in the case of Champion Construction Co. reported in [1983] 5 ITD 495 . However, in these years, the CIT(A) set aside the matter back to the file of Assessing Officer for determining the extract percentage of project completed and thereafter making reassess-ments following the above decisions of ITAT. The Revenue has accepted the orders of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mum./2000 with the same observation. In the above circumstances, we are unable to accept either the request of the Revenue in assessment year 1992-93 that tax should be levied on the basis of "percentage completion method" or the request of the assessee that the entire addition should have been deleted by the CIT(A). We find that the ITAT, Mumbai Bench in the case of Champion Construction Co. has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ermined in assessment year 1978-79. However, the Tribunal had not laid down any general rule on sale of which percentage of the total area the project should be considered to be substantially completed. However, considering the figures of two years, i.e., 1977-78 and 1978-79, as were before the Tribunal in the case of Champion Construction Co. (supra), we deem it proper to direct the Assessing Off ..... X X X X Extracts X X X X X X X X Extracts X X X X
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