Project Completion Method Upheld, Revenue Appeal Dismissed

ITO Vs S.R.K.M Steels (P) Ltd. (ITAT Guwahati) Project Completion Method Prevails, No Double Taxation: Guwahati ITAT Upholds Deletion of ₹2.23 Cr Revenue Recognition Addition Guwahati ITAT, Guwahati Bench, in ITO Vs S.R.K.M Steels (P) Ltd. (ITA No.274/GTY/2018; AY 2015-16; order dated 18-12-2025), dismissed the Revenue’s appeal and upheld the CIT(A)’s order deleting the addition of ₹2.23 crore made on account of alleged premature revenue recognition in a real estate project. The Assessing Officer sought to substitute the assessee’s consistently followed Project Completion Method with...