2021 (4) TMI 112

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.... O. P. KANT, AM: This appeal is directed 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 an....

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....plex and also earning rental income. The return of income was filed by the assessee for the 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 ....

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....garding the head under which rental income is to be taxed. The assessee is earning rental income 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/le....

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....tes Pvt. Ltd. and ITA N0.1097/2011 relates to another company of the same group by name Discovery Holdings 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 th....