9911796707
TMI Blog2020 (2) TMI 414X X X X Extracts X X X X X X X X Extracts X X X X ..... r these facts and circumstances, we hold that there is no mistake apparent in the Tribunal order on this aspect. - M.P. No.333/Bang/2018, ITA No.59/Bang/2015 (Assessment Year: 2010-11) - - - Dated:- 8-1-2020 - SHRI A.K. GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessee By: Smt. Shreya L, C.A. Revenue By: Smt. B. Premi, JCIT (D.R) ORDER PER SHRI PAVAN KUMAR GADALE, JM : This Misc. Petition No.333/Bang/2018 in ITA No.59/Bang/2015 filed by the revenue contending that certain apparent mistakes in the order and should be rectified. 2. In the course of hearing of the Misc. Petition, it was submitted by the learned Departmental Representative that the Agreement with Karnataka State Cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Cricket Association and the contribution made for creation of Cricket Academy can be held to be in business interest. From the assessment records it is seen that agreement with Karnataka State Cricket Association is dated much later to the Financial Year i.e. 14/09/2011 whereby the appellant and Karnataka State Cricket Association have agreed to establish an academy called Royal Challengers - KCA Cricket Academy and the contribution made by the assessee was in the earlier year. At the time of payment no such agreement or evidence of a cricket academy was in existence. The Misc. Petition is filed as the date of Agreement with Karnataka State Cricket Association (KSCA) is dt.14.09.2011 which is much later to the FY 2009-10 releva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the copy of agreement dated 14.09.2011 signed between the assessee company and Karnataka State Cricket Association vide which under Para - II have agreed to establish an academy called Royal Challengers KCA Cricket Academy. It may be noted that the date of agreement itself is not in the period relevant to assessment year in question. However, considering the assessee's request that ₹ 45,00,000/- has been paid during the relevant to the assessment year 2010-11, not-withstanding the date of agreement, the allowability was further examined. On verification of the said agreement the following aspects are clear. 1. The academy is yet to assume inception as evidenced by Para -II of the agreement. 2. ₹ 45,00,000/- is pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hus an amount of ₹ 45,00,000/- is hereby disallowed and added back to the total income of the assessee. As per the relevant para of the assessment order reproduced above, it is seen that this fact is very much noted by the Assessing Officer that the date of Agreement itself is not in the period relevant to the Asst. Year in question. But even after noting this aspect of the matter, addition was not made by him on the basis of date of Agreement but on the basis that the amount in question is capital in nature. Hence the contention raised in the present M.P. that there is apparent mistake in the Tribunal order because the Tribunal has not considered the date of Agreement is devoid of any merit. Under these facts and circumstances, w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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