TaxTMI 
TaxTMI 
2017 (12) TMI 1894
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....ra, business conducting fees and business facility charges collected from the occupants were treated as rent and held taxable under the head Income from House Property and hence, the reliance is misplaced. 3. On the facts and in the circumstances of the case and in law, the Ld. CIT (A) has erred in holding the rental receipts as Business Receipts by relying on the decision of the ITAT in the case of M/s. Krishna Land Developers Pvt. Ltd. without appreciating that the facts of the said case are completely distinguishable from the facts of the present case as in that case the issue was whether rental receipts of STP are eligible for deduction u/s. 80IA(4)(iii) of the Act. 4. On the facts and in the circumstances of the case and in law, the Ld. CIT (A) has erred in holding that the rental income from the building is taxable as business income by referring to the specifications of the structure and amenities without appreciating that such amenities have been provided by the assessee as the building is a commercial complex which is being commercially exploited by the tenant and not by the assessee. 5. "On the facts and in the circumstances of the case and in law, the Ld. CIT (A....
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....at length and we have also perused the material placed on record as well as the orders passed by revenue authorities. Before we decide the merits of the case, it is necessary to evaluate the orders passed by Ld. CIT(A). The Ld. CIT (A) has dealt with the above grounds raised by the revenue in its detailed order. The operative portion of the order of Ld. CIT (A) is contained in para no. 1.3 of its order and the same is reproduced below:- 1.3 Decision 1.3.1 I have carefully considered the submissions and contention of the Ld. AR of the appellant and also carefully gone through the records. I find that similar issue arose for the consideration of my and my Ld. Predecessor in the earlier year who vide order No. CIT(A)/IT-44 & 47/2012-13, dated 07.01.2013 has allowed the ground of appeal. The Id. AO has followed his earlier orders and facts remaining same, I find no reason to differ from the material finding given by my Id. Predecessor. Respectfully following the orders of my Ld. Predecessors in the appellant's own case, the Ld. AO is directed to allow the claim of the appellant. This ground of appeal is thus allowed. The Ld. AR submitted before us that the present grou....
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.... the business of the assessee. The assessee therefore, rightly disclosed the income under the Head Income from Business. It cannot be treated as 'income from the house property'. We, accordingly, allow this appeal and set aside the judgment of the High Court and restore that of the Income Tax Appellate Tribunal. No orders as to costs. We find that the facts of the present case are identical in nature since the main objective of the assessee company was to deal in real estate of varied nature and the rental income was the main source of income for the assessee. Our view is further fortified by the cited CBDT circular No. 16/2017 and judgment of this Tribunal rendered in the case of assessee's sister concern under identical situation. Even otherwise, the revenue has accepted the stand of assessee in several other years and rule of consistency demands that similar stand be taken under identical circumstances. Therefore, we conclude that rental income earned by the assessee was chargeable under the head Business Income only as against Income from House Property taken by lower authorities. Resultantly, this ground of assessee's appeal succeeds. After having gone throug....
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....at the present ground is identical to the grounds decided by the Coordinate Bench of Hon'ble ITAT in ITA No. 1992/M/13 for AY 2009-10 in assessee's own case. The operative portion of the order of Hon'ble ITAT contained in para no. 8 and the same is reproduced below:- 8. The solitary issue involved in assessee's appeal ITA No. 1992/Mum/2013 for AY 2009-10 is disallowance of interest expenditure on loans advanced to sister concerns since Ld. CIT(A), in this year, has granted partial relief to the assessee by holding that rental income was assessable under the head Business Income. Since, we have already restored the identical issue in earlier years to the file of Ld. AO, taking the same stand, this issue is also remitted back to the file of Ld. AO with similar directions. Resultantly, the assessee's appeal stands allowed for statistical purposes. After having gone through the facts of the present case as well as considering the orders passed by revenue authorities and Hon'ble ITAT as mentioned above in assessee's own case, we find that the identical issue has already been decided by the Hon'ble ITAT in assessee's own case in ITA No. 1992/M/13 for AY 2009-10. Theref....
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....djudicate the same in the light of our decision in this appeal. Resultantly both these appeals stands allowed for statistical purposes. After having gone through the facts of the present case as well as considering the orders passed by revenue authorities and Hon'ble ITAT as mentioned above in assessee's own case, we find that the identical issue has already been decided by the Hon'ble ITAT in assessee's own case in ITA No. 2745 & 2748/M/13 for AY 2007-08 & 2009-10. Therefore taking the same stand, this issue is remitted back to the file of AO with similar directions as are contained in ITA No. 2745 & 2748/M/13 for AY 2007-08 & 2009-10. Resultantly, this ground raised by the revenue stands allowed for statistical purposes. Ground No. 7 9. This ground raised by the revenue relates to challenging the order of Ld. CIT (A) in directing the A.O to allow set off unabsorbed depreciation without appreciating the stand taken by the department consistently in the assessee's own case that the rental income shown by the assessee under the head 'business income' was actually assessable under the head 'Income from House Property'. 10. We have heard counse....