M/s K.G. Estate Pvt. Ltd., Kolkata V. I.T.O Wd - 8(3),Kol., Kolkata

ITA 1735/KOL/2012

• Counselvise Citation: [2015] 120 COUNSELVISE.COM (IT) 9048 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 1 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-01-2015
• Appeal Filed By: Assessee
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 27-11-2012
• Court: TRIBUNAL
• Department Lawyers: VARINDER MEHTA
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOLKATA [BEFORE SHRI N. K. SAINI, AM & SHRI MAHAVIR SINGH, JM ] I.T.A NO. 1735 /KOL/201 2 ASSESSMENT YEAR : 200 7 - 0 8 M/S. K. G. ESTATE PRIVATE LIMITED VS. INCOME - TAX OFFICER, WD - 8 ( 3 ), KOLKATA (PAN:A A BCK4476E ) ( APPELLANT ) ( RESPONDENT ) DATE OF HEARING: 2 1 .01.2015 DATE OF PRONOUNCEMENT: 21 .01.2015 FOR THE APPELLANT: SHRI SUBASH AGARWAL , ADVOCATE FOR THE RESPONDENT: SHRI VARINDER MEHTA , CIT, DR ORDER PER SHRI MAHAVIR SINGH, JM : THIS APPEAL BY ASSESSEE IS ARISING OUT OF ORDER OF CIT(A) - VIII , KOLKATA IN APPEAL NO. 2 18 /CIT(A) - VIII /KOL/ 09 - 10 DATED 19 . 09 .201 2 . ASSESSMENT W AS FRAMED BY ITO, WARD - 8 ( 3 ), KOLKATA U/S. 143(3) OF THE INCOME - TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT ) FOR AY 2007 - 08 VIDE HIS ORDER DATED 30 .1 1 .200 9 . 2. THE ONLY ISSUE IN THIS APPEAL OF ASSESSEE IS AGAINST THE ORDER OF CIT(A) CONFIRMING THE ACTION OF AO IN TREATING THE RENTAL INCOME EARNED AS INCOME FROM HOUSE PROPERTY INSTEAD OF INCOME DECLARED BY THE ASSESSEE UNDER THE HEAD INCOME FROM BUSINESS OR PROFESSION . FOR THIS, ASSESSEE HAS RAISED FOLLOWING GROUND NO.1. 2. T HAT UNDER THE FACTS AND CIRCUMSTANCES OF THE CASE, HON BLE CIT(A) HAS ERRED IN TREATING THE LEASE RENTAL INCOME EARNED UNDER THE HEAD INCOME FROM HOUSE PROPERTY INSTEAD OF INCOME FROM BUSINESS OR PROFESSION. 3 . AT THE TIME OF HEARING LD. COUNSEL FOR THE ASSESSEE VERY FAIRLY ADMITTED THAT THE ISSUE IS SQUARELY COVER ED IN FAVOUR OF REVENUE AND AGAINST THE ASSESSEE BY THE ORDER OF THIS TRIBUNAL B BENCH IN ASSESSEE S OWN CASE IN ITA NO.1449/KOL/2012, AY 2006 - 07 DATED 10.09.2014 AND THE FACTS AND CIRCUMSTANCES ARE EXACTLY IDENTICAL WHAT WAS IN AY 2006 - 07. BUT LD. COUN SEL FOR THE ASSESSEE STATED THAT JUST TO KEEP ALIVE THE ISSUE AND TAKE UP BEFORE THE HON BLE HIGH COURT , HE HAS FILED THIS APPEAL A S HE WANTS TO CONTEST 2 ITA NO. 1735/K/2012 K. G. ESTATE PRIVATE LTD. 200 7 - 0 8 THIS ISSUE BEFORE HON BLE HIGH COURT EXACTLY ON SAME FACTS . ON THIS LD. SR. DR STATED THAT THE ISSUE IS COVERED. 4. WE FIND FROM THE FACTS AND CIRCUMSTANCES OF THE CASE THAT THE ISSUE IS EXACTLY IDENTICAL AND THERE IS NO CHANGE IN FACTS AND CIRCUMSTANCES OF THE CASE. AS THE ISSUE IS COVERED IN FAVOUR OF REVENUE AND AGAINST THE ASSESSEE BY THE ORDER OF THIS TRIBUNAL B BENCH IN ASSESSEE S OWN CASE IN ITA NO.1449/KOL/2012, AY 2006 - 07 DATED 10.09.2014, THE APPEAL OF ASSESSEE IS DISMISSED. 5 . IN THE RESULT, APPEAL OF ASSESSEE IS DISMISSED. 6 . ORDER IS PRONOUNCED IN THE OPEN COURT . S D / - S D / - ( N. K. SAINI ) (MAHAVIR SINGH) ACCOUNTANT MEMBER J UDICIAL MEMBER DATED : 21ST JANUARY , 201 5 JD.(SR.P.S.) - COPY OF THE ORDER FORWARDED TO: 1 . / A PPELLANT M/S. K. G. ESTATE PRIVATE LIMITED, B - 11, 1 ST FLOOR, 75C, PARK STREET, KOLKATA - 700 016 2 / RESPONDENT ITO, WARD - 8 ( 3 ), KOLKATA . 3 . ( )/ THE CIT (A), KOLKATA 4. 5. / CIT KOLKATA / DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, / BY ORDER, /ASSTT. REGISTRAR .