The Commissioner Of Income Tax v. M/S. J.gala Builders

(-1-) hvn IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 213 OF 2009 The Commissioner of Income Tax ... Appellant The Commissioner of Income Tax ... Appellant Versus M/s. J.Gala Builders ... Respondent Mr. A.S. Shivsharan for the Appellant. Mr. P.V. Irani with Mr.A.K. Jasani for Respondent. CORAM: F.I.REBELLO&R.S.MOHITE, JJ.DATED: APRIL 02, 2009 CORAM: F.I. R.S.MOHITE, JJ. DATED: APRIL 02, 2009 P.C.: P.C.: . The revenue is in appeal on the following question : "The substantial question of law is whether in the facts and circumstances of the case and in law, the Tribunal is right in upholding the order of CIT(A) who held that AO is not justified in rejecting method of accounting consistently followed and substituting the same with an un recognized method of accounting to determining the income and deleting the addition?" . The learned tribunal in its impugned order noted that the assessee has been following percentage completion method since years together and if (-2-) revenue wanted to disturb the same by substituting another method, then it was necessary that the similar method should be imposed by the assessee for all the other assessment years. Otherwise it will result in double taxation and illogical assessment and accordingly upheld the order of C.I.T. (A). We uphold the reasoning given by the Tribunal. Accordingly there is no merit in this appeal which is dismissed. (R.S.MOHITE, J.) (F.I.REBELLO, J.) (R.S.MOHITE, J.) (F.I.REBELLO, J.)