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Income Tax Appellate Tribunal, “SMC” BENCH : KOLKATA
Before: Shri J.Sudhakar Reddy, AM ]
ORDER This appeal by the assessee arises out of the order of the Learned Commissioner of Income Tax (Appeals)-11, Kolkata [ in short the ld CITA] dated 28.11.2016 against the order passed by the ITO, Ward-2(3), Kolkata [ in short the ld AO] under section 143(3) of the Income Tax Act, 1961 (in short “the Act”) dated 31.01.2014 for the Assessment Year 2011-12.
After hearing rival contentions. I find that the sole issue is whether, the income earned by the assessee by renting out the premises along with rendering certain composite services, is assessable under the head “Income from business” or under the “Income from House property”.
The Ld. CIT(A) has held that the consideration received by the assessee was for composite services. The Ld. CIT(A) applied the decision of Hon'ble Supreme Court in the case of East India Housing and Land Development Trust India vs. CIT reported in 42 ITR 49 (SC) and the judgment in the case of Chennai property and Investments Ltd.
M/s Lexotic Exports Pvt. Ltd. A.Yr.2011-12 Chennai vs. CIT in Civil Appeal No. 4491/2004 judgment dated 09.04.2015 and held that the income in question is assessable under the head “Income from house property” only. The Ld. DR could not controvert the factual findings of the Ld. CIT(A). Hence, I uphold the same and dismiss the appeal.
In the result, the appeal of the revenue is dismissed.
Order pronounced in the Court on 28.12.2017 Sd/- [J. Sudhakar Reddy] Accountant Member Dated : 28.12.2017 SB, Sr. PS Copy of the order forwarded to:
1. 1. ITO, Wd-2(3), Kolkata, 7th Floor, R/No. 21, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-69.
2. M/s Lexotic Exports Pvt. Ltd., Block: EN-12, Sector-V, Salt Lake City, Kolkata-91 3..C.I.T.(A)- , Kolkata 4. C.I.T.- Kolkata.
5. CIT(DR), Kolkata Benches, Kolkata.