Statement Can’t Override Accounting Law – ITAT Says PCM Prevails

DCIT Vs Amardeep Constructions (ITAT Mumbai)

Builder Followed Law, AO Followed Statement – Tribunal Chooses Law- No Completion, No Revenue: ITAT Blocks ₹18 Cr ‘Phantom Profit’ Addition.  43CA Safe Harbour Now 10% – ITAT Applies Retrospectively. The Tribunal held that income cannot be taxed merely on a survey statement when the builder consistently follows the Project Completion Method. Additions of ₹19.2 crore were deleted. Assessing Officer cannot switch to percentage completion arbitrarily. The Tribunal rejected the addition based solely on

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