2013 (5) TMI 632

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....ppeals have been filed on behalf of the assessee under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the "said Act") challenging the order dated 07.12.2012 passed by the Income Tax Appellate Tribunal. The Tribunal had, by the order dated 07.12.2012, disposed of three appeals being ITA Nos. 3742/DEL/2012, 3743/DEL/2012 and 1462/DEL/2012 which had been preferred by the revenue....

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.... Housing Finance & Leasing Co. Ltd. decided on 31.10.2012 in ITA No. 18/1999. That decision has, subsequently, been followed in CIT v. Discovery Estates Pvt. Ltd (in ITA Nos. 1089/11 and 1090/2011) and CIT v. Discovery Holding Pvt. Ltd. (in ITA No. 1097/2011) decided on 18.02.2013. One of the questions raised in Discovery Estates Pvt. Ltd and Discovery Holding Pvt. Ltd (supra) was "whether the Inc....

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.... actual rent receipts and not on the basis of deemed rent. Therefore, the decision of this court in Discovery Estates Pvt. Ltd and Discovery Holding Pvt. Ltd (supra) would govern the present case also. 6. Consequently, while framing the question as to whether the Income-tax Appellate Tribunal was right in holding that rental income should be assessed under the head of "profits and gains from busi....