2018 (12) TMI 989

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....012-13. 2. This appeal has been filed raising the following substantial questions of law : "i. Whether, on facts and in circumstances of the case, the Tribunal was right in holding that the consideration of Rs. 2,28,87,500/- is to be taxed in assessment year 2012-13 ignoring the fact that no portion of the aforesaid consideration accrued in the assessment year? and ii. Whether, on facts and circumstances of the case, the Tribunal was right in not considering the fact that the consideration of Rs. 2,28,87,500/- was duly offered to tax in the subsequent assessment year?" 3. The assessee filed their return of income for the assessment year 2012-13 relevant to the financial year 2011-12 on 28.9.2012 declaring an income R....

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....Commissioner of Income Tax (Appeals) [for short, the CIT (A)]. However, the Appellate Authority, vide order dated 31.1.2017, confirmed the order passed by the Assessing Officer. The assessee carried the matter on further appeal to the Tribunal, which passed the impugned order rejecting the appeal filed by the assessee. 6. We have heard the learned counsel for the appellant and Mr.M. Swaminathan, learned Senior Standing Counsel accepting notice for the respondent. 7. Admittedly, a part of the consideration received by the assessee was offered to tax for the assessment year 2013-14, the assessee filed their return of income and the tax had been paid. In our considered view, the issues raised in these appeals have become academic, since ....