2022 (4) TMI 1633

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....RASAD For the Appellant : Mr. R. Vijaya Narayanan for Mr. Subbaraya Aiyar Padmanabhan For the Respondent : Mr. T. Ravikumar JUDGMENT (Judgment of the Court was made by R. MAHADEVAN, J.) The present Tax Case Appeal has been filed by the appellant/assessee against the order passed by the Income Tax Appellate Tribunal, 'D' Bench, Chennai in I.T.A.No.1947/Mds/2011 dated 16.05.20....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the appellant company and providing integrated services such as maintenance and further investing the returns in real estate development is assessable as income from business under Section 28 or income from house property under Section 22 of the Income Tax Act?" 3. The learned counsel appearing for the appellant/assessee and the learned standing counsel for the respondent/Revenue jointly submit....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....iness, having regard to the fact that the appellant company is pursuing the main object of the company as provided in the Memorandum and Objects? 4. Mr. M. Venkat Narayanan, learned counsel for the appellant would submit that in the assessee's own case in "Rayala Corporation Pvt. Ltd., Vs. Assistant Commissioner of Income Tax" reported in "[2016] 386 ITR 500 (SC)", the Hon'ble Sup....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s income by leasing out the property as income from business and profession as claimed by the assessee. However, the said Judgment does not deal with the income under other heads and no finding has been given by the Hon'ble Supreme Court. Making it clear as stated above, as no finding has been given with regard to any other heads, this Court is of the view that as per the judgment of the Hon&#....