TaxTMI 
TaxTMI 
2019 (4) TMI 1388
X X X X Extracts X X X X
X X X X Extracts X X X X
.... This appeal is filed by the revenue to challenge the judgment of Income Tax Appellate Tribunal. Following question is presented for our consideration; "Whether on the facts and circumstances of the case and in law, the Hon'ble Income tax Appellate Tribunal erred in treating the House Property Income as Business Income?" 2. Brief facts are as under; The Respondent-Assessee is a private lim....
X X X X Extracts X X X X
X X X X Extracts X X X X
....leave and license agreement with the licensee which shows that the building was constructed for the purpose of shopping mall with the approval of the Pune Municipal Corporation. The assessee was providing various facilities and amenities apart from giving shopping space on lease. The agreement contained the list of facilities to be provided by the assessee. Some of them were as under; "i. Lighti....
X X X X Extracts X X X X
X X X X Extracts X X X X
....istics area. viii. Installation of common dining arrangement for occupants, their staff & workers with tables, chairs, benches, etc. ix. Installation of common water purifier and dispensing system to provide clean & hygienic potable water. x. Installation of common rest room facilities." 3. The tribunal also noted that the charges for the facilities and utilization were included in license....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ase, the significant features are that the assessee had obtained loan from the bank for its mall-complex project. That the assessee had entered into lease and license agreement with individuals for letting out commercial space. Majority of these licensees was for a period of 60 months. In addition to providing such commercial space on lease, the assessee also provided range of common amenities. Li....