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Income Tax Appellate Tribunal, “SMC”, BENCH MUMBAI
Before: SHRI R.C.SHARMA, AM
आदेश / O R D E R PER R.C.SHARMA (A.M):
This is an appeal filed by the assessee against the order of CIT(A)- 13, Mumbai dated 27/09/2016 for the A.Y.2012-13 in the matter of order passed u/s.143(3) of the IT Act.
Grievance of assessee relates to treatment of income from warehouse as income from house property in place of income offered under the head ‘business and profession’.
Rival contentions have been heard and record perused.
Facts in brief are that the assessee company owns a warehouse at the MIDC TTC Industrial Area, Rabale, Navi Mumbai. The assessee had received warehousing charges to the tune of Rs.47.99 lakhs from one M/s. Om Waterhousing. The assessee offered warehousing charges as