DCIT, CHENNAI V. Rayala Corporation pvt. Ltd., CHENNAI

ITA 892/CHNY/2016

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 7409 (ITAT-CHENNAI)
• Duration Of Justice: 11 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-03-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 27-02-2017
• Assessment Year: 2012-2013
• Appeal Filed On: 07-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUPRIYO PAL
• Keywords: Business income
• Section: 14A

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI . . . , !.. # $%, ' () BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER ./ ITA NO.892/MDS/2016 + ,+ / ASSESSMENT YEAR : 2012-13 THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 5(1), CHENNAI - 600 034. V. M/S RAYALA CORPORATION PVT. LTD., NO.144/7, OLD MAHABALIPURAM ROAD, RAYALA TECHO PARK, KOTTIVAKKAM, CHENNAI - 600 041. PAN : AABCR 7230 D (.// APPELLANT) (01.// RESPONDENT) ./ 2 3 / APPELLANT BY : SHRI SUPRIYO PAL, JCIT 01./ 2 3 / RESPONDENT BY : SH. SAROJ KUMAR PARIDA, ADVOCA TE # 2 4' / DATE OF HEARING : 27.02.2017 56, 2 4' / DATE OF PRONOUNCEMENT : 29.03.2017 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) 3, CHENN AI, DATED 11.01.2016 AND PERTAINS TO ASSESSMENT YEAR 2012-13. 2 I.T.A. NO.892/MDS/16 2. THE FIRST ISSUE ARISES FOR CONSIDERATION IS CLAS SIFICATION OF INCOME FROM LETTING OUT OF PROPERTIES. 3. WE HAVE HEARD SHRI SUPRIYO PAL, THE LD. DEPARTME NTAL REPRESENTATIVE AND SH. SAROJ KUMAR PARIDA, THE LD.C OUNSEL FOR THE ASSESSEE. THIS ISSUE WAS CONSIDERED IN THE ASSESSE E'S OWN CASE BY THE APEX COURT AND FOUND THAT THE INCOME FROM LE TTING OUT OF PROPERTY IS A BUSINESS INCOME. IN VIEW OF THE JUDG MENT OF APEX COURT IN THE ASSESSEE'S OWN CASE, WHICH IS REPORTED IN 2016-TIOL- 119-SC-IT, THIS TRIBUNAL DO NOT FIND ANY REASON TO INTERFERE WITH THE ORDER OF THE LOWER AUTHORITY AND ACCORDINGLY THE SA ME IS CONFIRMED. 4. THE NEXT ISSUE ARISES FOR CONSIDERATION IS DISAL LOWANCE OF EXPENDITURE UNDER SECTION 14A OF THE INCOME-TAX ACT , 1961 (IN SHORT 'THE ACT'). 5. WE FIND THAT THIS ISSUE ALSO ADMITTEDLY COVERED BY THE ORDER OF CO-ORDINATE BENCH OF THIS TRIBUNAL IN THE ASSESS EE'S OWN CASE FOR ASSESSMENT YEAR 2011-12 IN I.T.A. NO.908/MDS/2015. IN VIEW OF THE ABOVE, THIS TRIBUNAL DO NOT FIND ANY REASON TO INTE RFERE WITH THE ORDER OF THE LOWER AUTHORITY AND ACCORDINGLY THE SA ME IS CONFIRMED. 6. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. 3 I.T.A. NO.892/MDS/16 ORDER PRONOUNCED ON 29 TH MARCH, 2017 AT CHENNAI. SD/- SD/- ( ! . . # $% ) ( . . . ) (D.S. SUNDER SINGH) (N.R.S. GANESAN) ' / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 8 /DATED, THE 29 TH MARCH, 2017. KRI. 2 04$9 :9,4 /COPY TO: 1. ./ /APPELLANT 2. 01./ /RESPONDENT 3. # ;4 () /CIT(A)-3, CHENNAI 4. PRINCIPAL CIT, CHENNAI-5, CHENNAI 5. 9< 04 /DR 6. !+ = /GF.