The Commissioner Of Income Tax v. Darti Developers

(-1-) MGN IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL LODGING NO.2103 OF 2006 The Commissioner of Income Tax...Appellant Vs. Darti Developers................Respondent Mr. A.D.Kango with Mr. P.S. Sahadevan, for the Appellant. CORAM: F.I.REBELLO&R.S.MOHITE,JJ.DATED: 11TH FEBRUARY,2008 CORAM: F.I. R.S.MOHITE,JJ. DATED: 11TH FEBRUARY,2008 P.C.: . Revenue was in Appeal before ITAT against the order of Commissioner (Appeals), which had held in favour of the assessee. The learned Tribunal recorded a finding of mercantile system in the matter of accounting standards. It noted that Project Completion Method and Percentage Completion Method would be exception to the mercantile system of accounting and for the reasons recorded therein allowed the deductions. The Tribunal has concurred with the said finding of fact. Considering the above the question as framed would not arise and consequently Appeal dismissed. (R.S.MOHITE, J.) (R.S.MOHITE, J.)(F.I.REBELLO, J.) (F.I.REBELLO, J.) (R.S.MOHITE, J.)