2012 (2) TMI 616

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....MENT The following question of law has been raised in this appeal by the Revenue under Section 260A of the Income Tax Act, 1961: Whether the Tribunal was justified in ignoring the decision of the apex Court in the case of Shambu Investments (P) Ltd Vs. CIT (2003) 263 ITR 143 wherein it was held that where the main intention is letting out property or any portion thereof the same may be considere....

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....t both in the case of earlier Assessment Years as well as in subsequent Assessment Years i.e. AY 1998-99 and 2000-01, such income had been assessed as business income. Counsel appearing on behalf of the assessee states that it is only in the case of AYs 1997-98, 2001-02 and 2005-06 that the Revenue sought to take a different position. Of these three years, the appeals relating to the first two yea....