AI Drafter 
TaxTMI 
TaxTMI 
2021 (8) TMI 150
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.... "1. COMPUTATION OF INCOME FROM RENTING OF TERRACE UNDER THE HEAD "INCOME FROM OTHER SOURCES" 1.1 On the facts and in the circumstances of the case and in law, the learned Commissioner of Income Tax (Appeals)-28, MUMBAI [CIT (A)] erred in confirming the additions made by the learned Assessing Officer by computing income from renting of terrace under the head 'Income from Other Sources' as against the same offered by the appellant under the head 'Income from House Property' resulting into an addition for a sum of Rs. 3,60,000/ -. 1.2 The learned CIT (A)-28, and the learned Assessing Officer failed to appreciate the legal position emerging from the related case laws on the issue. 1.3 The learned....
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....sources and deduction under section 24(a) of the Act should not be denied. In response, the A.R. for the assessee, vide letter dated 18th September 2017, stated that it may be noted that Dish Antenna charges should be taxed as income from House Property after considering the deduction available under sections 23 and 24 of the Act. In support of his contention, he relied upon the decision of the Co-ordinate Bench of this Tribunal in Mahalaxmi Sheela Premises CHS Ltd., ITA no.784, 785 & 786/Mum./2010, dated 20th August 2011, as well as the decision of the Hon'ble Jurisdictional High Court rendered in ITA no.3183 of 2020, dated 16th August 2011. The Assessing Officer considered the submissions of the assessee, however, the same was not acc....
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....of Rs. 3,60,000. After hearing both the parties, we find that this issue is now settled by the decisions of the Co-ordinate Bench of the Tribunal in Mahalaxmi Sheela Premises CHS Ltd. v/s ITO, ITA no.784, 785 & 786/Mum./2010, dated 20th August 2011, wherein it has been held that the income on account of hoarding and display from terrace is liable to be taxed as income from house property. As a matter of convenience, we reproduce below the relevant portion of the findings of the Co-ordinate Bench in Mahalaxmi Sheela Premises CHS Ltd. (supra):- 2. "We have heard the learned Counsel, Mr. Hiro Rai, on behalf of the assessee and the learned Departmental Representative, Mr. P.C. Mourya, on behalf of the Revenue. 3. In the appeal....
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.... ITO v/s Cuffe Parade Sainara Premises Co. Op. Society Ltd., ITA no.7225/Mum./2005, order dated 28.4.2008; • Dalamal House Commercial Complex Premises Co. Op. Society Ltd. v/s ITO, ITA no.2286/Mum./2008, 29.5.2009; • Sharda Chambers Premises Co. Op. Society Ltd. v/s ITO, ITA no.1234/Mum./2008, order dated 1.9.2009; • Matru Ashish CHS Ltd. v/s ITO, ITA no.316/Mum./2010, order dated 27.8.2010; • S. Sohan Singh v/s ITO, 16 ITD 272 (Del.); and • CIT v/s Bajaj Bhavan Owners Premises Co. Op. Society Ltd., Income Tax Appeal no.3183 of 2010 (Bom.) 6. In Bajaj Bhavan Owners Premises Co. Op. Society Ltd. v/s ITO, Mumbai "B" Bench of the Tribunal in ITA no.5048/Mum./2004, assess....
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....he party, on the similar facts, the Tribunal after considering the decision in ITO v/s Cuffe Parade Sainara Premises Co. Op. Society Ltd., ITA no.7225/Mum./2005, dated 28th April 2008, for A.Y. 2002-03 and also the decision in the case of S. Sohan v/s ITO (1986) 16 ITD 272 supra, has held vide Para-6 and 7 of its order dated 1.9.2009, as under:- 6. We have carefully considered the submissions of the rival parties and perused the material available on record. We find merit in the plea of the ld. counsel for the assessee that in the case of M/s. Dalamal House Commercial Complex Premises Co. Op. Society Ltd., the Tribunal while admitting the additional ground being a legal issue has also held that the letting out of the terrace erecti....