9911796707
TMI Blog2023 (4) TMI 147X X X X Extracts X X X X X X X X Extracts X X X X ..... e, the Assessee by filing declaration u/s. 158A(1) of the Act in Form No. 8 dated 26.08.2021, claimed that the Hon'ble Delhi High Court vide order dated 27.07.2011 in the case of CIT vs. Gautam R. Chadha decided the following issues : (a). Whether ITAT was correct in law in deleting the addition made by the Assessing Officer, which had been restricted by the CIT(A) to the extent of 15% of the advances treating the same as income of the Assessee ? (b). Whether the receipts on account of booking of cruise tickets assumed the character of income in the hands of the Assessee when the amount was received from the customers or when the cruise departed ? (c). Whether the ITAT was correct in law in allowing the Assessee to adjust the losses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e money towards a booking or at the stage of delivery or service provided by its principal? D. Whether the High Court is correct in holding that since service is the duty of service provider the agent is not concerned whether ultimately service is availed by the customer or not irrespective of the fact that the income of the agent is dependent on the services provided by the Principal. E. Whether agents become entitled to their commission at the booking stage irrespective of whether the event occurs or not even when the agreement for 'Total Commissionable Revenue' is only for 'Qualified Bookings' which are completed only where cruise sails and for which full payment is received by the principal ?" 4. The Assessee, therefore, claimed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d be binding on the parties and the Assessee shall not file any reference and/or any statutory appeal either before the Hon'ble High Court or before the Hon'ble Apex Court qua the issues involved in the instant appeal. 7. Hence, considering the fact that as on today decision on the issues under consideration raised by the Assessee is against the Assessee and therefore in view of the provisions of section 158A(1) of the Act, declaration dated 26.08.2021 in Form No. 8 filed by the Assessee u/s. 158A(1) of the Act and certificate dated 21.02.2023 issued by the AO u/s 158A(3) of the Act, the instant appeal is liable to be dismissed, with liberty to the Assessee to seek modification of this order, as per outcome of the decision by the Hon'ble A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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