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In the case of real estate developer in [2022] 19 ITR-OL 33 (Kar) the AO replaced the computation of profits from completed construction method to percentage completion basis which the Court held impermissible for the following two reasons:
 
  1. the AO itself has recognized the completed contract method for computation in subsequent assessment years;
  2. the same does not impact the overall revenue of the Department meaning revenue neutral exercise.

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