Section 263 of the Income-tax Act, 1961—Revision — Revisionary order passed by Pr. CIT is without jurisdiction and has to be quashed as PCIT could not point out any defect in the revenue recognition method i.e. completed project method/percentage completion method adopted by the assessee and the method was consistently followed by the assessee and accepted by the department for recognition of revenue by following AS-2 alongwith AS-9 is a reasonable and right method for recognition of revenue on sale of flats/residential units/land. - HI-TECH ESTATES & PROMOTERS (P.) LTD. V/s PR. CIT - [2020] 183 ITD 690 (ITAT-CUTTACK)