2013 (5) TMI 995

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....ubmitted that same issue had come up before the Tribunal in Revenue's appeals for assessment years 2004-05, 2005-06 and 2007-08 in I.T.A.Nos. 1039 to 1041/Mds/2011, and the Tribunal vide its order dated 31.10.2012, decided the issue in favour of the assessee. 3. Ld. DR fairly agreed that the issue stood covered in favour of the assessee. 4. We find that in its order dated 31.10.2012, in assessee's own case in I.T.A.Nos.1039 to 1041/Mds/2011, the Co-ordinate Bench has held at para Nos. 9 & 10 as under: "9. We have heard the submissions made by both the parties. We have also gone through the orders of the authorities below and the judgements/orders relied on by the respective parties. The learned counsel for the assessee has placed on rec....

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....ration in the year 1986, the assessee has been filing its return of the income by treating the income earned from letting of warehouses and godowns under the head "Income from Business" and the same has been accepted by the Department. It was only in the three assessment years i.e. 2004-05 and 2005-06 and 2007-08 that the Revenue has challenged the head of income. 10. The D.R. has relied on the judgement of the Hon'ble Madras High Court in the case of Keyaram Hotels (P)Ltd., (supra) and Chennai Properties and Investments Ltd. (supra) to buttress his argument that where assessee leased out buildings and realized income by way of rent, such rental income is liable to be assessed under head "Income from House Property" and not under head "In....