M/s Irus Corp., Noida V. ITO, Noida

ITA 4902/DEL/2016

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 6952 (ITAT-DELHI)
• Duration Of Justice: 4 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-01-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC 2
• Next Hearing Date: 08-12-2016
• Assessment Year: 2012-2013
• Appeal Filed On: 14-09-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AMRIT LAL
• Assessee Lawyers: V RAJ KUMAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH SMC - 2 , NEW DELHI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER ITA NO. 4 902 /DEL/2016 AY: 201 2 - 13 M/S IRUS CORP. VS. ITO, WARD 1(5) C 15, SECTOR 30 NOIDA NOIDA 201 301 PAN: AABF 19115 M (APPELLANT) (RESPONDENT) APPELLANT BY : SH. V.RAJ KUMAR, ADV. RESPONDENT BY : SH. AMRIT LAL, SR.D.R. ORDER THIS IS AN APPEAL FILED BY THE ASSESSEE DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - I , NOIDA DATED 10.06.2016 PERTAINING TO THE ASSESSMENT YEAR (A.Y.) 201 2 - 13 . 2. T HE ONLY ISSUE IN DISPUTE IS WHETHER THE RENTAL INCOME RECEIVED BY THE ASSESSEE IS TO BE ASSESSED UNDER THE HEAD INCOME FROM HOUSE PROPERTY OR UNDER THE HEAD INCOME FROM BUSINESS . THE C BENCH O F T HE TRIBUN AL IN THE ASSESSEE S OWN CASE IN ITA 814/DEL/ 15 FOR THE IMMEDIATELY PRECEDING YEAR 2010 - 11 VIDE ORDER DT. 17 TH NOVEMBER, 2016 APPLIED THE JUDGEMENT OF THE SUPREME COURT IN THE CASE OF RAYALA CORPORATION PRIVATE LIMITED IN CIVIL ITA 4902/DEL/ 2016 ASSESSMENT YEAR 2012 - 13 IRUS CORP VS. ITO, NOIDA 2 APPEAL NUMBER 3764 / 2016 AND HELD THAT THE INCOM E IN QUESTION , UNDER THE FACTS AND CIRCUMSTANCES OF THE CASE , IS TO BE ASSESSED UNDER THE HEAD INCOME FROM BUSINESS . 2.1. CONSISTENT WITH THE VIEW TAKEN THEREIN , I DIRECT THE A SSESSING OFFICER TO ASSESS THE INCOME IN QUESTION UNDER THE HEAD INCOME FROM BUSINESS . 3. IN THE RESULT THE APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 6 T H JANUARY,2017. S D / - (J.SUDHAKAR REDDY) ACCOUNTANTMEMBER DATED: THE 1 6 T H JANUARY, 2017 *MANGA ITA 4902/DEL/ 2016 ASSESSMENT YEAR 2012 - 13 IRUS CORP VS. ITO, NOIDA 3 COPY OF THE ORDER FORWARDED TO: 1. APPELLANT ; 2.RESPONDENT; 3.CIT; 4.CIT(A); 5.DR; 6.GUARD FILE BY ORDER ASST. REGISTRAR