GOWTHAM RESIDENTIAL JUNIOR COLLEGE,VIJAYAWADA vs. ACIT, CENTRAL CIRCLE, VIJAYAWADA

ITA 26/VIZ/2022Status: DisposedITAT Visakhapatnam24 June 2025AY 2013-1441 pages
AI SummaryDismissed

What did the Tribunal hold?

The Third Member agreed with the Accountant Member, holding that the income derived from the lease was indeed income from house property, contrary to the assessee's claim of business income. This decision was based on the majority opinion.

What were the facts?

The assessee leased out its educational institution premises and business. The revenue treated the rental income as income from house property, while the assessee claimed it as business income. This issue had been accepted by the revenue in prior assessment years.

What were the issues?

Whether rental income from leased educational premises should be treated as business income or income from house property, and if the revenue can reagitate the same issue year after year without change in facts.

Which sections of the Income-tax Act were involved?

Section 255(4)

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Cases cited in this judgment(19)Show list

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Income Tax Appellate Tribunal, VISAKHAPATNAM “DIVISION” BENCH, VISAKHAPATNAM

Before: SHRI RAVISH SOOD, HON’BLE & SHRI S BALAKRISHNAN, HON’BLE

For Appellant: Shri C.Subrahmanyam, AR
For Respondent: Dr. Aparna Villuri, Sr.AR
Pronounced: 24.06.2025

PER SHRI S BALAKRISHNAN, ACCOUNTANT MEMBER:

Order giving effect to the order passed by the Third Member.

Page No. 1

I.T.A.Nos.25 & 26/VIZ/2022 Gowtham Residential Junior College

1.

On account of difference of opinion a

The order continues below.

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