2014 (9) TMI 1169

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.... O R D E R PER DR. S.T.M. PAVALAN, JM: This appeal filed by the Revenue is directed against the order of the Ld.CIT(A)-21, Mumbai dated 01.06.2012 for the Assessment Year 2009-10. 2. In Grounds No. 1 and 2, the Revenue has agitated the decision of the Ld.CIT(A) in holding that the income on sub lease of land and the maintenance income under the head business income and allowing of various....

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....e expenditure claimed by the assessee were to be capitalized. On appeal, the Ld.CIT(A) by relying on his own orders for the earlier A.Ys. 2006-07, 2007-08 and 2008-09, had observed that the assessee's business for development of Bio Technology Park was already set up and commenced and therefore held that the sub lease income (apart from the rental income) was assessable as business income. Also, t....

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.... facts. The Tribunal, for said order, in turn, has relied on the earlier order of the Tribunal dated 11.09.2013 for the A.Y. 2005-06, wherein it has been held that the assessee has commenced its business activity in March, 2004. In view of the fact that the Ld.CIT(A) has relied on his own orders for the earlier assessment years, which has been confirmed by the Tribunal, and also since the Revenue ....

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....uiring or construction assets that are used for earning taxable income then his claim for interest expenditure has to be allowed. The relevant finding of the Tribunal is at para 15 of the said order. Since the decision of the Ld.CIT(A) for the A.Y. 2008-09, which has been relied on by him for the impugned decision has been upheld by the Tribunal, we do not find any justifiable reason to interfere ....