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TMI Blog2017 (8) TMI 728X X X X Extracts X X X X X X X X Extracts X X X X ..... ery of 5% towards commission and other expenses due. Based on such transactions, the amounts were realised by the assessee through banking channels and F forms under the CST Act were also obtained by them from the Agent. These admitted facts, therefore, shows that the assessee had received only 95% of the gross price and the Revenue has no material before it that the assessee had received anything in excess thereof either directly or otherwise. The principles laid down by the Apex Court in Godhra Electricity's case (1997 (4) TMI 4 - SUPREME Court) clearly indicate that the assessee could be taxed only for the income that it has derived. If that be so, despite the contentions raised regarding the doubtful existence of the agent, the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... und that the evidence indicated that the assessee had received only 95% of the invoice price and that the assessee could not have been taxed for an income which they have not received. For this purpose, the Tribunal placed reliance of the judgment of the Apex Court in Godhra Electricity Co.Ltd. v. Commissioner of Income-Tax [225 (1997)ITR 746]. On that basis, the Tribunal allowed the appeals of the assessee. It is this common order that is challenged by the Revenue and the questions of law framed are the following: 1. Whether on the facts and in the circumstances of the case the Tribunal is right in allowing the assessee's appeal when the payee was not traceable and there was no proof of payment of commission. 2. Whether ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation. There were transactions between the assessee and the said concern and the invoices which were raised by the assessee in the name of the Agent also contained the gross sale price and the net amount payable, after recovery of 5% towards commission and other expenses due. Based on such transactions, the amounts were realised by the assessee through banking channels and F forms under the CST Act were also obtained by them from the Agent. These admitted facts, therefore, shows that the assessee had received only 95% of the gross price and the Revenue has no material before it that the assessee had received anything in excess thereof either directly or otherwise. The principles laid down by the Apex Court in Godhra Electricity's case ..... X X X X Extracts X X X X X X X X Extracts X X X X
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