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TMI Blog2013 (11) TMI 1517X X X X Extracts X X X X X X X X Extracts X X X X ..... under consideration, viz, assessment year 2008-09. In view of the above, we consider it prudent that this issue be set aside to the file of the Assessing Officer to consider whether the income has accrued to the assessee in the assessment year under consideration, viz., assessment year 2008-09 in respect of the said advance amount received by the assessee in the assessment year 2005-06. The Assessing Officer will allow due opportunity of hearing to the assessee and decide the issue afresh after considering such evidences as may be furnished by the assessee by a reasoned order as per law - Matter remanded back - Decided in favour of assessee. X X X X Extracts X X X X X X X X Extracts X X X X ..... dvance so received is receipt in nature of income irrespective of the fact that when and how services are going to be performed. The Assessing Officer made the addition of the said amount of ₹ 10,00,000 to the income of the assessee. Being aggrieved, the assessee filed appeal before the first appellate authority. 3. On behalf of the assessee it was contended that the assessee had received the said amount of ₹ 10,00,000 from Red Chillies Entertainment P. Ltd. vide indent dated June 10, 2004 as token money in connection with acquiring the negative rights of Chahat film, which was shown as revenue advance. It was further contended that even in cash basis, receipt cannot partake the character of income as the assessee only received ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10,00,000 would be considered as income of the assessee, in the year in which the assessee has performed the work. There is no material on record that the assessee has completed the work in the assessment year under consideration, viz, assessment year 2008-09. In view of the above, we consider it prudent that this issue be set aside to the file of the Assessing Officer to consider whether the income has accrued to the assessee in the assessment year under consideration, viz., assessment year 2008-09 in respect of the said advance amount received by the assessee in the assessment year 2005-06. The Assessing Officer will allow due opportunity of hearing to the assessee and decide the issue afresh after considering such evidences as may be fu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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