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TMI Blog2022 (2) TMI 1197X X X X Extracts X X X X X X X X Extracts X X X X ..... ued and insisted that principle of consistency should have been followed by ld CIT(A) and now the issue be restored to the file of AO. We are unable to persuade ourselves on the submission of Ld. Sr.DR for the revenue, as the AO himself deleted the similar addition by accepting the contention of assessee on the retention money and again filed the appeal on the same issue. Therefore, we do not find any infirmity in the order passed by Ld. CIT(A). Accordingly, we affirm the same. - Decided against revenue. - ITA No. 581/SRT/2019 - - - Dated:- 23-2-2022 - Shri Pawan Singh, Judicial Member And Dr. Arjun Lal Saini, Accountant Member For the Assessee : Shri Mehul K Patel, A.R For the Revenue : Shri Sita Ram Meena Sr-DR ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount of retention money retained by the customers out of the contract amount. The assessee was show caused vide order-sheet dated 10.09.2013 as to why the said amount should not be added to the total income of assessee. The assessee filed its reply dated 17.09.2013. The contents of which extracted by Assessing Officer in para-5.1 of his order. In the reply, assessee stated that the assessee-company engaged in business of manufacture of industrial plant machinery in particular distillery and alcohol based chemical plants and equipments including Ethyl Acetate plant . These plants are sold to manufacturers of alcohol and other chemicals to manufacture of such plants take a long time. The assessee-company gets turn-key contracts under whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e he customer raised some issues about the performance of the machinery and tried to settle the payment of the last instalment by reducing the amount payable. In some cases, the amount not received or delayed by 12 months or more. The assessee prepared the bill for the entire amount of the price as per agreement with sales tax, excise duty on the entire amount because the duty and taxes were payable on the entire sum when the plant was installed. However, the customer made payment in instalments and the balance of 10% which was the retention money was not paid until the performance of the machinery after commissioning the same was up to satisfaction of the customer. The assessee stated that the customer reduced the agreement money or did no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id retention money was added back to the total income of assessee. Before, assessing officer the assessee requested that in case the amount of ₹ 1.85 crores is taxed in the year than they may be allowed retention money for subsequent assessment year as amended the income was shown by assessee in subsequent year also. The submission of assessee was not accepted by Assessing Officer without giving any reason. 4. On appeal before Ld. CIT(A), the assessee filed detailed written submission. In the submission, the assessee stated that similar disallowance / addition was made by Assessing Officer, though on appeal before appellate commissioner such addition was upheld in AYs 2002-03, 2005-06, 2008-09 2010-11 respectively. However, on fu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sr. DR) for the Revenue and Ld. Authorized Representative (AR) for the assessee. The Ld. Sr.DR for the Revenue submits that during the assessment, the Assessing Officer find that the full amount of retention money was received by assessee in subsequent assessment year of ₹ 1.38 crores in AY 2012-13 and ₹ 46.32 lakhs in AY 2013- 14 respectively. Further, the expenditure relatable to the contract was completed debited to the profit and loss account for the year under reference. On the basis of attributable whereas the assessee received retention money of ₹ 1.85 crores on sale on the ground that retention money was retained by customer on contract. The Ld. Sr.DR submits that Ld. CIT(A) in the impugned order allowed the appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... below. We have also deliberated the order of Tribunal in AYs 2002-03, 2005-06, 2008-09 2010-11. The detail of the order of Tribunal and the order giving effect by Assessing Officer are as under:- A.Y ITA No. Date of order AO's order u/s143(3) r.w.s 254 2002-03 1977/Ahd/2011 27.03.2015 19.12.2016 2005-06 2600/Ahd/2011 12.06.2015 19.12.2016 2008-09 1774/Ahd/2011 10.04.2015 19.12.2016 2010-11 2044/Ahd/2011 20.06.2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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