Lease rent taxed as income from house property after Tribunal followed its earlier view in the assessee's own case.

Lease rent received by the assessee was held assessable as income from house property rather than business income, following earlier co-ordinate Bench orders in the assessee's own case for prior years. The Tribunal noted that the assessee ed the issue had already been decided against it and applied the same view consistently. As a result, the claim for taxation under the head business income was rejected and the assessment under income from house property was sustained.

---

---

Issues: Whether lease rent received by the assessee was liable to be assessed as business income or as income from house property.

Analysis: The assessee accepted that the issue had already been decided against it in its own case for earlier years. The Tribunal followed its earlier orders of the co-ordinate Bench, which had held that lease rent is assessable as income from house property.

Conclusion: The assessee's claim that the income should be assessed as business income was rejected, and the assessment of the lease rent under the head income from house property was sustained.

---