2013 (10) TMI 1169

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....ng the assessment years 2003-04, 2005-06. However, the present appeal is confined to the common order in so far as it relates to the assessment year 2005-06 and with reference to I. T. A. No. 961/Bang/2010 before the Tribunal. 2. The very facts leading to the present appeal is that the assessee had filed return of income for this year and even while the assessee had claimed its status as partnership firm and had returned certain income under the heading "Business" which was relatable to the income from leasing of the properties of the assessee and even before finalization of the return and passing of the assessment order, the assessee had been issued with notice under section 148 of the Act and on being pointed out that notice under sect....

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....ed, it had earlier been concluded in respect of the very assessee ; that the income can be assessed only under the head "House property" and, therefore, there is no merit in the submission. Be that as it may, the subject matter of this appeal is only order relating to the assessment year 2005-06. 5. In so far as the appeal relating to the assessment year 2005-06 is concerned, the Tribunal partly allowed the appeal, in the sense that, while assessing the income under the head "House property" was upheld, the question as to whether there could have been reopening or otherwise was not decided, but the matter remanded to the Assessing Officer to decide this question in the light of several judgments relied upon by the assessee before the Tri....

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....ly concluded and on the question as to whether income should have been assessed under the head "House property" or "Business income", it is pointed out that the question as raised and as submitted by Sri Ashok A.Kulkarni, learned counsel for the appellant-assessee is not tenable as the nature of income whether it is to be assessed under the head "House property' or "Business" is not dependent on the status of the assessee as to whether it is assessed in the status of "association of persons" or in the status of "partnership firm". 11. Sri Ashok A. Kulkarni, learned counsel for the appellant-assessee, on the other hand, submits that though for the year in question, the question may be academic, nevertheless, for the future the assessee wo....