2023 (5) TMI 535

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.... For the Assessee : Shri Neelesh Khandelwal For the Revenue : Shri Ramnath P. Murkunde ORDER PER S.S. VISWANETHRA RAVI, JM : This appeal by the assessee against the order dated 04-02-2022 passed by the Commissioner of Income Tax (Appeals)-11, Pune ['CIT(A)'] for assessment year 2015-16. 2. The assessee raised two grounds of appeal amongst which the only issue emanates for our consid....

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.... as income from house property. It is a well settled law that when two divergent views of non-jurisdictional High Courts are available and there is no decision on the issue from the Jurisdictional High Court, the view in favour of the assessee has to be adopted [Commissioner of Income Tax Vs. Vegetable Products Ltd.(supra)]. 9. In so far as the decision of Hon'ble Bombay High Court in the....

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....on of property constructed by the assessee, is assessable as income from house property. The core difference between the case of the assessee and in the case of Commissioner of Income Tax Vs. Sane & Doshi Enterprises (supra) is that in the case of assessee, it is notional annual rental income on flats held as stock which is sought to be taxed, whereas in the case of Commissioner of Income Tax Vs. ....