2013 (4) TMI 949

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....Respondent by: Shri R. Vijayaraghavan, Advocate ORDER S.S. Godara, Judicial Member This Revenue's appeal is directed against the order of the Commissioner of Income Tax (Appeals) -VI, Chennai dated 19.09.2011 in ITA No. 77/11-12, for assessment year 2008-09; in proceedings under section 143(3) of the Income Tax Act 1961 [in short the "Act"]. 2. In the instant case, the sole substan....

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....well as CIT(A)'s findings. The concise facts of the case are that the assessee is a 'company', engaged in the business of biotech park including research and development in life sciences. In the assessment order dated 31.12.2010 it is evident that in the 'return', it had shown receipts of Rs. 4,28,98,273/-, Rs. 1,56,48,308/-, Rs. 2,55,90,441/-, Rs. 33,08,490/-, Rs. 13,91,286/- ....

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....9; sources totalling to Rs. 3,20,16,170/-. 6. Aggrieved, the assessee preferred appeal. In the order under challenge, the CIT(A) holds that assessee's activities of raising rental and other incomes in question are in the nature of real, substantial, systematic and organized and that its core business is to let out allocable built-up space with all infrastructure facilities to develop operat....