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2012 (2) TMI 218 - HC - Income TaxRecognition of income of licence fee – agreement for lease of hotel building with ITC Ltd - fee received assesed under the head “Business Income” – Non- disclosure of such income after A.Y. 1995-96 by assessee on ground that said agreement was unilaterally terminated by them and no amount was due, accrued and payable to them – settlement agreement executed later - Tribunal deleted addition made by Revenue on accrual basis - A.Y. 03-04, 05-06 - Held that:- It is apparent that there are contentious and counter-submissions on the factual matrix, which have to be examined and gone into by the tribunal itself. It is for the tribunal to examine the relevant clauses of the lease agreement and consider the claim regarding unilateral termination, the legal effect thereof and the subsequent settlement agreement between the assessee and ITC Ltd. and the legal effect thereof. Therefore, tribunal will re-examine, the entire aspect and questions afresh .It is, however, clarified that we have not examined the claim or the addition on merits – Decided in favor of Revenue.
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