2012 (8) TMI 327

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.... the cause in presenting the appeal belatedly. The delay is condoned and the appeal is admitted for hearing. 2. The first ground is against confirmation of income from license fees at Rs.18,97,248/- instead of Rs.4,74,312/-. The second ground, which is related to ground no. 1, is against confirmation by the ld. CIT(A) of the action of the AO in assessing such income under the head 'Income from other sources' instead of business income shown by the assessee. 3. Briefly stated, the facts of these grounds are that the assessee received a sum of Rs.4.74 lakhs as license fees from Mid-day Multimedia Publications Pvt. Ltd. in respect of some premises which was sub-licensed along certain amenities. This premises was taken on license by the a....

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....such amount of license fee has been directed to be considered as business income. In the absence of any distinguishing features in the facts of the present assessee and the other licensor in the same property, respectfully following the precedent, we direct to tax the license fees for the entire year at Rs.18.97 lakhs as business income. 5. Ground no. 3 is against the confirmation of disallowance of 75% of expenses amounting to Rs.52,099/-. Having heard the rival submissions and perused the relevant material on record, we find that the Tribunal in the aforenoted case of M/s Mangala International Pvt. Ltd. has restored similar matter to the file of AO for taking a fresh decision on such expenses. Respectfully following the precedent, we s....