TMI Blog2019 (4) TMI 1237X X X X Extracts X X X X X X X X Extracts X X X X ..... . By no logic, the sum of ₹ 7 crores can be stated to have accrued in favour of the assessee. Even the amount of ₹ 40,00,000/- to be received in the later year by virtue of addendum was never paid and the reasons for such non-payment was also recorded on 25th February, 2009 mainly attributing to the slow business and slum in the market. No question of law therefore arises. Expenditure of consultancy charges out of sale of rights to the audio songs - HELD THAT:- Tribunal while accepting the assessee's stand, noted that the payee has accepted the subject amount by way of income. The Tribunal also noted that the payment was made through cheque. The assessee had also pointed out the nature of services rendered by the Consulta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ). Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in reversing the orders of the Assessing Officer and of the CIT(A) and holding that the whole of the income of ₹ 7 crore as per the agreement dated 12.01.2009 towards 'sale of rights' to M/s. INX Media Pvt. Ltd. did not accrue to the assessee during the previous year relevant to assessment year 2009-10? b). Whether on the facts and in circumstances of the case and in law, the Tribunal was justified in reversing the orders of the Assessing Officer and of the CIT (A) and holding the 'expenses for purchase of rights of ₹ 1.50 crore held as in the nature of dead expenses as allowable within the meaning o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lly paid by INX Media on 10th February, 2009. However, due to slow business for the reasons recorded on 25th February, 2009, no further payments were made to the assessee. The assessee also deducted tax at source only in relation to sum of ₹ 5 crores actually paid by INX Media. The Tribunal in the impugned judgment also noted that the assessment of INX Media was also being done parallel by the same Assessing Officer before whom INX Media had claimed expenditure of only ₹ 5 crores and no more. Under such circumstances, the Tribunal was of the view that, merely because in the original agreement, the parties had agreed to a sum of ₹ 7 crores by way of sale consideration, such amount cannot be stated to have accrued to the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rendered by the Consultant. In the circumstances, the Tribunal accepted the assessee's contention of expenditure. The issue is predominantly based on facts. The Tribunal has noted the relevant fact and come to the conclusion that the expenditure was genuine and was made for the purpose of services rendered by the Consultant. No question of law arises in this respect. 6. The sole surviving Question no.(b) arises in following background. The respondent-assessee had purchased copyrights from three different agencies for the limited period of two years by making totally payment of ₹ 2.25 crores. However, the assessee could license out subject rights in favour of INX Media, only for one of the three suppli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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