2012 (2) TMI 581

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....bachan Ram ORDER PER VIJAY PAL RAO, JM These appeals by the revenue are directed against two separate orders of the CIT(A) both dated 13.3.2009 for the AYs 2002-03 & 2005-06 respectively. 2 The revenue has raised one common effective ground in both these appeals; therefore, for the sake of convenience, we reproduce the ground no.1 raised for the Assessment Year 2005-06 as under: ....

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....At the outset, we find that this issue has been considered and adjudicated by the coordinate Bench of the Tribunal in assessee's own case for the Assessment Year 2004-05 in ITA No.999/Mum/2008 vide order dated in para 8 to 10 as under: 8. We have carefully considered the orders of the authorities below and submissions of the learned representatives of both the parties. We have gone throug....

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....ecognized. Consequently, I have to agree with the learned Accountant Member that the retention money of 10% has to be excluded in computing the total income until the period of guarantee is over." We observe that the Honble Jurisdictional High Court in the subsequent assessment year of same assessee considered the above decision of ITAT and affirmed the said decision. It was held that ret....

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....eceive the amount at that stage vested. 9. Further we observed that the assessee received a part of retention money against bank guarantee in the preceding assessment years, the details of which are given by Assessing Officer at Page 2 and also mentioned herein above in Para 3 at Page 3 of this order. During the course of hearing the learned Authorized Representative submitted that the as....