2012 (8) TMI 1015

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....assessment year 2007-08, on the following grounds:-  "1. On the fact and circumstances of the case as well as in Law, the Learned CIT(A) has erred in confirming the action of Assessing Officer in treating the Business Centre(I.T Park) Income as Income From House Property instead of Business Income without considering the facts & circumstances of the case. 2. On the fact and circumstances of the case as well as in law, the Learned CIT(A) has erred in confirming the action of Assessing Officer in disallowing the claim of all expenses without considering the facts & circumstances of the case. 3. On the fact and circumstances of the case as well as in Law, the Learned CIT(A) has erred in confirming the action of ....

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....rder dated 12th August 2011 (supra), passed by the Tribunal in assessee's own case, which reads as follows:- 13. The undisputed fact is that the property in question is an I.T. Park, with all infrastructure facilities and services. This is not a simple building. The Ministry of Commerce and Industries, notifies certain building as I.T. Park only if various facilities and infrastructure, as specified by the Department, are provided. It is an undisputed fact that all the technical requirements, infrastructures, facilities and services are being provided in this building and it was only for this reason that not only the Ministry of Commerce & Industries, but also the CBDT notified the same as an I.T. Park which entitles the assessee t....

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....d. (supra), the Hon'ble Gujarat High Court held that the income earned from business centre is to be assessed under the head "Income From Business & Profession". The Special Leave Petition filed by the Revenue against this judgment was rejected by the Hon'ble Supreme Court which is reported as 264 ITR (St.) 36. Coming to the decision of the Mumbai Bench of the Tribunal in Harvindarpal Mehta (supra), the Tribunal, in this decision, after considering the judgment in Shambhu Investments P. Ltd., held that the income earned from business centre is to be assessed under the head "Income From Business & Profession". The decision of Mumbai Bench of the Tribunal in Shanaya Enterprises (supra) held that when the property is used for specific purp....