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TMI Blog2019 (7) TMI 1512X X X X Extracts X X X X X X X X Extracts X X X X ..... rual of income - retention money exclusion or inclusion from income - HELD THAT:- As following the binding judgment of the Hon ble Jurisdictional High Court in the case of CIT vs. Simplex Concrete Piles (India) Limited [ 1988 (12) TMI 52 - CALCUTTA HIGH COURT] the act of the ld. CIT(A) in restricting the exclusion of the retention money has to be held as contrary to the judgment of the Hon ble Jurisdictional High Court. order of the ITAT is hereby rectified stating CIT(A) was wrong in bringing to tax part of the retention money in question. Hence these grounds of the assessee are allowed and the addition on account of retention money is hereby deleted in full. - M.A. No. 82/Kol/2019, 83/Kol/2019, 84/Kol/2019 (A/O. ITA No. 1169/Kol/2017, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessment Year 2007-08. The first one was numbered 1170/Kol/2017, which is against the order of the Assessing Officer passed u/s 263/143(3) of the Act, as confirmed by the ld. CIT(A)-5, Kolkata, vide its order dt. 22/03/2017 and the second appeal in I.T.A. No. 1169/Kol/2017, which was against the original order of the Assessing Officer passed u/s 143(3) on 24/12/2009, which was also adjudicated by the ld. CIT(A) in a common order passed on 23/02/2017. He submitted that the impugned ground no. 3.2. in I.T.A. No. 1169/Kol/2017, has not been disposed off and hence the same may be recalled for the limited purpose of disposing off the same. 3. We have heard rival contentions. On careful consideration of the facts and circumstances of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the addition of retention of money without appreciating the law laid down by the jurisdictional High Court in case of CIT v. Simplex Concrete Piles (India) Limited (1989) 179 ITR 8 (Cal). 5.1. The Tribunal at para 6 of its order held as follows:- 6. In view of the above discussion, we uphold the contention of the assessee and direct the Assessing Officer to exclude the retention money included in the sales. This retention money can be brought to tax in the year when the assessee received the same. Accordingly this ground of the assessee is allowed for all the Assessment Years. 5.2. In light of the above decision following the binding judgment of the Hon ble Jurisdictional High Court in the case of CIT vs. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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