2018 (9) TMI 1089

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....in, FCA , ld.AR ORDER Shri S.S. Viswanethra Ravi, JM: This appeal by the Revenue is directed against the order of the Commissioner of Income Tax (Appeals), 5, Kolkata dt. 15-09-2017 for the A.Y 2013-14. 2. The only issue is to be decided as to whether the CIT-A is justified in treating the income from warehousing structure as income from business as against income from house property as held....

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.... CIT (Appeal)-5, Kolkata, on the same issue in his order for assessment year 2010-11, following the decision of the Hon'bleITAT, Kolkata in the appellant's own case had allowed the appellant's plea, that income from warehousing is an income from business. On perusal of the records, it appears that the Hon'ble ITAT Kolkata in the appellant's own case for the assessment years 2000-01, 2001-02, 2002-....

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....from. The provisions contained in section 22 of the I.T Act clearly mentions that the annual value of property consisting of any buildings or lands appurtenant thereto of which the assesse is the owner, other han such portions of such property as he many occupy for the purposes of any business or profession carried on by him the profits of which are chargeable to income-tax, shall be chargeable to....

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.... not on behalf of the ownership but in his own right." This Tribunals Bombay Bench as well as Hyderabad Bench reported in 110 ITD 331 and 337 and 99 ITD 18 is of the same view to the effect that "if the assesse is not the owner of the building, income from letting out the same with amenities would have to be assessed either under head "Business "or "income from other sources" depending on the fact....