TMI Blog2018 (2) TMI 1369X X X X Extracts X X X X X X X X Extracts X X X X ..... he coordinate bench of the Tribunal in quantum proceeding. - Decided in favour of assessee - I.T.A. No.1331/Ahd/2014 - - - Dated:- 19-2-2018 - SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER AND SHRI MAHAVIR PRASAD, JUDICIAL MEMBER For The Appellant : Ms. Urvashi Sodhan, A.R. For The Respondent : Shri V. K. Singh, Sr. D.R. ORDER PER MAHAVIR PRASAD, JUDICIAL MEMBER : This is an appeal by the assessee against the order of the Commissioner of Income Tax(Appeals)-II, Baroda, dated 25/02/2014 for the Assessment Year (AY) 2005-06, on the following Grounds: i. The ld.CIT(A) erred in holding that the appellant has not been able to controvert the findings of the Assessing Officer or has not been able to furnish the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payment towards the services rendered nor the income was accrued to the assessee during the year under consideration. Under these facts, the authorities below were totally unjustified for making addition. There is no dispute with regard to the fact that the assessee entered into various agreements with the parties as mentioned in the assessment order. However, contention of the assessee is that contract was terminated before the expiry of the period. Therefore, during the year under appeal, no payment was either accrued or received by the assessee. The Assessing Officer at page no.4 of his order has mentioned that there were agreements with Multi Tech Plast Containers Ltd., Kuoni Travels (India) Pvt. Ltd., VFS (India) Pvt. Ltd., UTI Bank Lt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tained. As no contrary material has been placed by the Revenue and gathered any material by making enquiry in this respect, we hereby direct the Assessing Officer to delete the amount of ₹ 19,71,435/- VFS (India) Pvt. Ltd. In respect of Kuoni Travels(India) Pvt. Ltd., Assessing Officer has made addition amounting to ₹ 4,80,000/- and confirmed by Ld. CIT(A). Assessing Officer had made addition on the basis that the contract existed up to 19.10.2005. The Ld. Counsel for the assessee drew our attention to the cancellation of agreement between M/s. Kuoni travels (India) Pvt. Ltd. at paper book page 10. The cancellation of agreement dated 1st April, 2004 is made. As per this cancellation, agreement dated 31.01.2003 was terminat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ced any confirmation from the concerned parities clarifying the position. Under these facts, we are unable to accept the contention of the ld. Counsel for the assessee. The addition made in respect of M/s. Kuoni travels (India) Pvt. Ltd. is hereby sustained. The only amount in respect of Prabhat Automation, ld. Counsel for the assessee reiterated the submissions as were made before the ld. CIT(A). We find that the Assessing Officer has noted that there was no agreement about the validity of the period of F.Y. 2004-05. Ld. CIT(A) confirmed the finding of Assessing Officer on the basis that appellant is the owner of the property. Therefore, in the absence of any evidence that the property was lying vacant, the Assessing Officer had confirmed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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