2005 (8) TMI 78

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....late Tribunal, Ahmedabad Bench "A" has referred the following questions under section 256(2) of the Income-tax Act, 1961, at the instance of the Commissioner of Income-tax, Baroda: "(1) Whether the Appellate Tribunal is right in law in directing the Income-tax Officer to treat the income from property known as 'Kunj Bungalow' under the head 'Business'? (2) Whether the Appellate Tribunal is r....

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.... 1981 respectively, assessed the income from the said property under the head "Income from house property". The assessee carried the matter in appeal before the Appellate Assistant Commissioner claiming that the income from "Kunj Bungalow" should be assessed under the head "Business" instead of "Income from house property". The Appellate Assistant Commissioner, for the reasons stated in his ord....

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....despite the fact that in the earlier years the only source of income of the assessee was from exploitation of the said property. The Tribunal further found that merely because in the previous year relevant to the assessment year 1977-78, the property had been hired out to the S.S.C. Board for few months, was no ground for taking a different view. Heard Mrs. M.M. Bhatt, learned standing counsel ....

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....he income from property known as "Kunj Bungalow" under the head "Business". Question No. 1 is accordingly answered in the affirmative, i.e., in favour of the assessee and against the Revenue. In so far as question No. 2 is concerned, Mrs. M. M. Bhatt has fairly pointed out that the controversy raised by the said question stands concluded by a decision dated February 17, 2005, of this court in I....