ACIT, CHENNAI V. M/s. R.K.Investments, CHENNAI

ITA 1908/CHNY/2010

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 86282 (ITAT-CHENNAI)
• Duration Of Justice: 4 year(s) 2 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-01-2015
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 07-01-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 11-11-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: A V SREEKANTH

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , C B ENCH, CHENNAI . , ! # $ , % & BEFORE SHRI A.MOHAN ALANKAMONY ACCOUNTANT MEMBER AND SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER ./I.T.A.NO. 1908/MDS/2010 ( / ASSESSMENT YEAR:2007-08) ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-XV NUNGAMBAKKAM HIGH ROAD, CHENNAI-600 034. VS M/S. R.K.INVESTMENTS, 28/21, DE MONTE COLONY, ALWARPET, CHENNAI-600 018. PAN: AAAFR3413Q ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MR. A.V.SREEKANTH, JCIT /RESPONDENT BY : MR. SAROJ KUMAR PARIDA, ADVOCATE /DATE OF HEARING : 7 TH JANUARY, 2015 /DATE OF PRONOUNCEMENT : 30 TH JANUARY, 2015 / O R D E R PER CHALLA NAGENDRA PRASAD, JM: THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORD ER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-XIII, CHEN NAI DATED 31.08.2010 FOR THE ASSESSMENT YEAR 2007-08. THE ONLY GRIEVANCE OF THE REVENUE IN ITS APPEAL IS THAT COMMISSIONER OF INCOME TAX (APPEALS) ERRED IN HOLD ING THAT RENTAL INCOME RECEIVED BY THE ASSESSEE SHOULD BE AS SESSED UNDER THE HEAD INCOME FROM BUSINESS. 2 ITA NOS. 1908/MDS/2010 2. THE ASSESSING OFFICER WHILE COMPLETING THE ASSES SMENT ASSESSED INCOME OF THE ASSESSEE FIRM UNDER THE HEAD INCOME FROM HOUSE PROPERTY AS AGAINST ASSESSEES CLAIM THAT SUCH INCOME IS ASSESSABLE UNDER THE HEAD BUS INESS IN RESPECT OF THE BUILDING KNOWN AS TEMPLE STEPS. THE COMMISSIONER OF INCOME TAX (APPEALS) ALLOWED THE CL AIM OF THE ASSESSEE HOLDING THAT RENTAL INCOME RECEIVED BY THE ASSESSEE FROM THE SAID PROPERTY IS ASSESSABLE AS IN COME FROM BUSINESS AS AGAINST INCOME FROM HOUSE PROPERTY . 3. COUNSEL FOR THE ASSESSEE SUBMITS THAT THE ISSUE IN APPEAL HAS BEEN CONSIDERED BY THE CO-ORDINATE BENCH OF THIS TRIBUNAL IN ITA NOS. 297 & 298/MDS/2012 DATED 18.02 .2013 IN ASSESSEES OWN CASE FOR THE ASSESSMENT YEARS 200 6-07 AND 2008-09 AND REVENUES APPEALS WERE REMITTED BY THE TRIBUNAL BACK TO THE ASSESSING OFFICER FOR CONSIDER ING THE ISSUE AFRESH IN ACCORDANCE WITH LAW. THEREFORE, HE PRAYS THAT SAME DIRECTION MAY BE GIVEN FOR THIS ASSESSMENT YEA R I.E. 2007-08 ALSO. A COPY OF THE TRIBUNAL ORDER DATED 18 .02.2013 IS PLACED ON RECORD. 3 ITA NOS. 1908/MDS/2010 4. DEPARTMENTAL REPRESENTATIVE HAS NO SERIOUS OBJEC TION IN REMITTING THE ISSUE TO THE FILE OF THE ASSESSING OFFICER AS THE TRIBUNAL HAD ALREADY REMITTED THE ISSUE TO THE ASSE SSING OFFICER FOR FRESH CONSIDERATION IN PRECEDING AS WEL L AS SUBSEQUENT ASSESSMENT YEAR. 5. HEARD BOTH SIDES. PERUSED ORDERS OF LOWER AUTHOR ITIES AND DECISION RELIED ON. WE FIND THAT THE ISSUE IN A PPEAL HAS BEEN CONSIDERED BY THIS TRIBUNAL AND REMITTED THE A PPEALS OF THE REVENUE FOR THE ASSESSMENT YEARS 2006-07 AND 20 08-09 FOR DECIDING THE ISSUE AFRESH IN ACCORDANCE WITH LA W. RESPECTFULLY FOLLOWING THE SAID DECISION, WE REMIT THIS ISSUE TO THE FILE OF THE ASSESSING OFFICER FOR FRESH CONSID ERATION IN ACCORDANCE WITH LAW AND IN THE LIGHT OF THE OBSERVA TIONS MADE BY THE CO-ORDINATE BENCH OF THIS TRIBUNAL IN ITA NO S.297 & 298/MDS/2012 DATED 18.02.2013 FOR THE ASSESSMENT YE ARS 2006-07 AND 2008-09. 4 ITA NOS. 1908/MDS/2010 6. THE APPEAL OF THE REVENUE IS ALLOWED FOR STATIST ICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON FRIDAY, THE 30 TH DAY OF JANUARY, 2015 AT CHENNAI. SD/- SD/- ( . ) ( ( *+ ) ( A.MOHAN ALANKAMONY ) ( CHALLA NAGENDRA PRASAD ) - / ACCOUNTANT MEMBER * - / JUDICIAL MEMBER * /CHENNAI, / /DATED 30 TH JANUARY, 2015 SOMU 12 32 /COPY TO: 1. APPELLANT 2. RESPONDENT 3. 4 () /CIT(A) 4. 4 /CIT 5. 2 7 /DR 6. /GF .