2019 (7) TMI 1512

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....aken the ground challenging the finding of the ld. CIT(A) that the net profit rate has to be applied on the issue of taxability of retention money. It was pointed out that for the Assessment Year 2007-08 in I.T.A. No. 1169/Kol/2017, Ground No. 3.2., was raised on this issue and that the same was not disposed off. It was further submitted that in view of the binding decision of the Hon'ble Jurisdictional High Court, in the case of CIT vs. Simplex Concrete Piles (India) Ltd. [1989] 179 ITR 8 (Cal.), the entire retention money has to be excluded from income as the same did not accrue to the assessee. It was argued that the Tribunal had allowed this ground of the assessee at para 6 of the order and as a consequence a mistake apparent on record ....

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....amount in question as income, though the assessee had taken a specific ground against this issue. Hence this mistake which is apparent on record has to be rectified.   5. Ground No. 3 in I.T.A. 1169/Kol/2017, Assessment Year 2007-08, reads as follows:- "3. Erroneous rejection of claim for exclusion of retention money not accruing during the previous year 2006-07 [INR 3,36,70,167]   3.1. That on facts and circumstances of the case and in law, the Ld. AO and subsequently the Ld. CIT(A) erred in not allowing exclusion of entire retention money of INR 3,36,70,167, without appreciating that such amounts did not accrue to the Appellant during AY 2007 -08.  3.2. That on facts and circumstances of the case, the Ld. CIT(A) er....