2021 (4) TMI 112

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....cted against the order dated 31st August, 2017 passed by the learned Commissioner of Income-tax (Appeals)-43, New Delhi [in short "the learned CIT(A)'] for assessment year 2013-14 raising the following grounds: Ground No. 1: The Ld. Commissioner of Income Tax (Appeals)-32, New Delhi [hereinafter referred to as 'CIT(A)'] has erred on facts and in law in passing the order dated 31.08.2017 under....

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....he year under consideration on 13.09.2014, declaring income or Rs. 2,67,02,200/-. The case was selected for scrutiny and assessment under Section 143(3) of the Income-tax Act, 1961 (in short 'the Act') was completed after treating the rental income under the head 'Income from House Property' instead of income under the head "Profit and Gains of Business or Profession' offered by the assessee in th....

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....e from commercial malls and offered the same under the head 'Profit and Gains of Business or Profession'. The rental income has been generated from commercial units which remained unsold and were held as stock in trade in desire of acceptable sale price. The Assessing Officer has taxed the said rental/lease income under the head "income from house property". 4.1 Identical issue was raised by the ....

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....gs Pvt. Ltd. On 13.02.2012, the following substantial questions of law were framed by this Court in all the three appeals: "(i) Whether the Income Tax Appellate Tribunal was right in holding that the rental income should be assessed under the head "income from business" and not under the head "income from house property"? (ii) Whether the Income Tax Appellate Tribunal was right in holding th....