TMI Blog2016 (2) TMI 1377X X X X Extracts X X X X X X X X Extracts X X X X ..... the adoption of PCM is in establish method of accounting and without there being any rationale or new development in the fact and circumstances of the case as well as without bringing out any defect on record in the accounting procedure adopted by the assessee, the revenue could not have concluded that the project completion method was not appropriate for the assessee. Hence, order of Hon ble High Court is also applicable in favour of the assessee to the present case pertaining to AY 2010-11 and accordingly sole ground of the revenue being devoid of merits is dismissed in the result appeal of the revenue is dismissed. - Sh. G.D. Agrawal V.P. And Sh. C.M. Garg, J.M For the Appellant : Smt. Rashmita Jha Sr. DR. For the Responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al and Hon ble High Court have been modified or dismissed by any higher forum. 4. On careful consideration of above submission of both the sides at the outset we note that the Hon ble Jurisdictional High Court of Delhi in the order dated 07.01.2015 in assesseee s own case dismissing the appeal of the assessee has upheld orders of the tribunal dated 20.04.2012 for AY 2006-07 2007-08 (Supra) and dated 31.07.2013 for AY 2008-09 2009-10. The relevant operative part of the order of Hon ble High Court is being respectfully reproduced as follows: The Revenue claims to be aggrieved by a common order of the Income Tax Appellate Tribunal (ITAT) passed in ITA 478/DEL/2013 and ITA 480/DEL/2013 dated 31.07.2013. These cover AY 2008-09 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sidered. In Manish Buildwell (Supra) it was held that it cannot be said that project completion method would result in deferment in payment of taxes which are to be assessed annually. The ITAT in these circumstances held-in relation to the assessee/respondentthat the adoption of the project completion method is an established method of accounting. In these circumstances, without there being any rationale or new development, the Revenue could not have concluded that the project completion method was not appropriate for the assessee. Consequently, it is held that no substantial question of law arises for consideration. The appeals are accordingly dismissed. 5. In view of above we are incline to hold that the Hon ble High Court has uphel ..... X X X X Extracts X X X X X X X X Extracts X X X X
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