2015 (4) TMI 1235

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....M. : This appeal filed by the Revenue is directed against the order passed by the ld. CIT(A) - 33, Mumbai dated 13-06-2012 for the A.Y. 2009-10 in the matter of an order passed by the Assessing Officer u/S 143(3) of the Income Tax Act, 1961 dated 14-12-2011. 2. In this appeal, although the Revenue has raised two Grounds of appeal but essentially the dispute is with regard to assessment of Rs....

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....ook the stand that since the assessee was not owner of the property, the income from sub-letting was to be assessed under the head "income from other sources". Consequently, the deduction claimed by the assessee under Section 24 was disallowed. The ld. CIT(A) has differed with the A.O. and instead upheld the plea of the assessee that the impugned rental income was assessable under the head "income....

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....enancy with the regard to the premises and has given their premises for creating the sub-tenancy in favour of ICICI Bank, Ltd. for a period of 15 years on certain terms and conditions as detailed in their letter dated 24/11/2000 addressed to the assessee, copy thereof filed in the compilation before us. In these facts of the case we find that the assessee become a deemed owner0 in accordance with ....

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....7(iiib) of the Act and the order of the CIT(A) is confirmed and the grounds of appeal of the revenue are dismissed." 5. Similarly in assessment years 2006-07, 2007-08 and 2008-09 the Tribunal vide its order in ITA No. 5419/Mum/2009, ITA No. 4584/Mum/2010 and ITA No. 6186/Mum/2011 dated 29-12-2010, 29-7- 2011 & 09-01-2014 respectively followed the earlier precedent in assessee's own case for A.Y....