2017 (5) TMI 1553

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.... is directed against the order dated 12.8.2016 passed by the learned CIT(A)-12, Mumbai and it relates to A.Y. 2012-13. The solitary issue urged in this appeal is whether lease rental income received by the assessee is assessable under the head income from house property or under the head income from business. 2. The assessee received rental income of ` 16,80,000/- from two properties held by it....

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....road and other structures and also buying, selling and leasing, bungalows, flats, room, factories, offices, shops, godowns, open plots, buildings and other structures and also carry on business of builders and contractors." Accordingly, by placing reliance on the following decisions rendered by Hon'ble Supreme Court, the learned AR submitted that the rental income received by it should be a....

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....s and Investments Ltd. (supra). Accordingly, he submitted that the rental income should be assessed under the head "business income" as per decision rendered by Hon'ble Supreme Court in the above said case. 5. On the contrary, learned Departmental Representative submitted that the Assessing Officer had assessed the rental income under the head "income from House property" in A.Y. 2010-11 an....