2014 (6) TMI 963

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....ulkarni, Adv. J U D G M E N T N. KUMAR, J, This appeal is preferred by the revenue challenging the order passed by the Appellate Tribunal. The substantial questions of law which is raised in this appeal by the appellants is: "1. Whether on the facts and in the circumstances of the case the Tribunal is justified in law in holding that the rental income received from Forum Mall, Eva Mall....

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.... the case of Commissioner of Income Tax-III Vs. Velankani Information Systems (P) Limited reported in (2013) 218 Taxman 88 (Karnataka). In the aforesaid decision this Court has observed as under:. "26.... ... ... If the intention is to exploit commercial property by putting up construction and letting out for the purpose of getting rental income, then notwithstanding the fact that the furniture....