IN THE HIGH COURT OF DELHI AT NEW DELHI 
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  01.12.2009 
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 Present:       Mr. Sanjeev Sabharwal, Adv. for the appellant-Revenue. 
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 + ITA No.1237/2009 
 After going through the orders passed by the CIT (A) as well as the 
 Income Tax Appellate Tribunal we find that the Assessing Officer was wrong in 
 presuming that the NIIT had taken over a net liability of Rs.10 Crores payable 
 to Star TV by the assessee and therefore, added that as an income of the 
 assessee on the basis of Asset Purchase Agreement between the NIIT and the 
 assessee.  The finding of fact recorded by the two authorities below is that the 
 rights were sold to NIIT at a consideration of Rs.1 Crore only. 
 The assessee had entered into an agreement on 13.07.2000 with Star 
 Television Ltd. as per which the assessee had committed to spend US$ 25,00,000 
 on properties majority owned or controlled by Star over a period of three years, 
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 which was due to expire in July 2003, but as per the revised agreement dated 
 31.07.2001, the payment schedule was amended.  Only the benefit of this 
 agreement was transferred to NIIT and as per this, the NIIT was to pay/spend the 
 aforesaid amount of Rs.10 Crores and get the benefit of Rs.12.25 Crores.  Thus, 
 the fruits of advertisements were to be enjoyed by the NIIT and not by the 
 assessee.  Moreover, it was an arrangement in future for which no benefit 
 accrued to the assessee. 
 In these circumstances, such an addition as done by the CIT (A) as well 
 as the Income Tax Appellate Tribunal is perfectly justified. 
 No substantial question of law arises for determination, this appeal is 
 accordingly dismissed. 
 A.K. SIKRI, J. 
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 SIDDHARTH MRIDUL, J. 
 December 01, 2009 
 pmc 
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