2012 (5) TMI 851

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....ounsel Respondent by : Shri S. Sridhar, Advocate ORDER PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER : In this appeal filed by the Revenue, its grievance is that the retention amount on contract Rs. 3,93,59,310/- added by the A.O. was deleted by CIT(Appeals). 2. Assessee is engaged in contract business and in its memo of income, it had claimed deduction for money retained by its clients ....

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.... 4. Now before us, learned D.R. submitted that the decision of Hon'ble jurisdictional High Court in the case of Ignifluid Boilers (P) Ltd. (supra) has not been accepted by the Revenue, but an SLP has been filed before Hon'ble Apex Court. 5. Per contra, A.R. submitted that the SLP filed by the Revenue against the decision of Hon'ble jurisdictional High Court in the case of Ignifluid Boilers (P....