2020 (7) TMI 754

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....minathan, Senior Standing Counsel assisted by Ms. V. Pushpa Junior Standing Counsel For Respondent : Mr. S. Sridhar ORDER (Made by Dr. Vineet Kothari,J) The Court was held by Video Conference, as per the Resolution of the Full Court dated 3 July 2020, by Judges at their respective residences and the counsel, staff of the Court appearing from their respective residences.   2. Th....

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....) Is not the Tribunal wrong in not considering the fact that in so far as retention amounts are concerned, the income has "accrued" to the Assessee herein by virtue of work done in AY.2009-10 and it is only the payment of the same that has been postponed and therefore the retention amounts form a part of the income of the Assessee for the AY.2009-10?" 3. Heard Mr.M.Swaminathan, learned Senior S....

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....nt year. The original authority, while considering the decision of this Court in Commissioner of Income Tax v. Ignifluid Boilers (P) Ltd., [(2006) 283 ITR 295)], was of the view that since the issue was pending before the Supreme Court and that such a claim is of recurring nature, declined to extend the benefit to the assessee. The Commissioner of Income Tax (Appeals), however, laying emphasis on ....