2014 (5) TMI 281

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r dated 31.03.2005 and by the 1st Appellate Authority dated 17.02.2006 have been reversed. The Authorities below held that income received by the respondent-assessee from letting out the commercial complex can be brought to tax under the head 'income from house property' and that the maintenance charges can be brought to tax under the head 'income from other sources'. Thus, the Authorities below held that the entire income of the assessee earned from letting out the commercial complex should be brought to tax under the head 'income from house property'. These findings of the Authorities below have been reversed by the Tribunal holding that the income earned by the assessee from letting out the commercial complex shou....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... secondly, what are the facilities given along with the buildings and documents executed in respect of each of them is to be seen. Thirdly, it is to be found out whether it is inseparable or not. If they are inseparable and the intention is to carry on the business of letting out the commercial property and carrying at complex commercial activity and getting rental income therefrom, the such a rental income falls under the heading of profits and gains of business or profession". 3. In this backdrop, we have perused the orders passed by the Authorities below and the Tribunal and we find reference to the commercial complex measuring 60,000 sq.ft., other than the Chamundi Estate, having been acquired by the assessee and they are receiving r....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the assessee, whether the assessee comply all the tests laid down by this Court in Velankani's case. They further stated that we need not record any further reasons for passing such order. 7. Hence, we pass the following order:-             (i) The order passed by the Tribunal dated 13.07.2007 as well as the orders passed by the Authorities below dated 17.02.2006 and 31.03.2005 are set aside. The matter is restored to the file of Assessing Officer.           (ii) The Assessing Officer, shall examine the case of the assessee afresh, in the light of the judgment of this Court in Velankani Information Systems case and while doing s....