INCOME TAX OFFICER, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

ITA 104/ASR/2024Status: DisposedITAT Amritsar15 January 2026AY 2017-18Bench: SH. MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER AND SH. UDAYAN DASGUPTA (Judicial Member)32 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee was engaged in a specified business under Section 35AD by setting up and operating a warehousing facility. The lease agreement, capital investment, and operational expenditures demonstrated a clear intention to carry on business.

What were the facts?

The assessee, an AOP, constructed godowns and leased them to PUNGRAIN for storing agricultural produce. The assessee claimed deduction under Section 35AD for setting up and operating a warehousing facility. The revenue reopened the case, arguing that the income was from house property and not a specified business.

What were the issues?

Whether the income from letting out godowns for agricultural storage constitutes a 'specified business' eligible for deduction under Section 35AD, or if it should be taxed as 'income from house property'.

Which sections of the Income-tax Act were involved?

Section 35AD,Section 22,Section 28

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Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR.

Before: SH. MANOJ KUMAR AGGARWAL & SH. UDAYAN DASGUPTA

For Appellant: DR 16.12.2025
Pronounced: 15.01.2026

Per: Udayan Dasgupta, J.M.: Both these appeals are filed by the revenue against the orders of ld. CIT (A), NFAC, Delhi, passed u/s 250 of the Income Tax Act, 1961,( henceforth the Act ) both dated 29.01.2024 , which has emanated from the orders of AO, Circle Ferozepur, dated 30.12.2019 passed u/s 143(3) r.w.s. 147 of the Act (for A.Y. 2014- 15) and order dated 28.12.2019 passed u/s 143(3) of the Act ( for AY 2017-18 ).

I.T.A. No. 103 & 104/Asr/202 Assessment Years: 2014-15 and 2017-18 2

2.

The facts and issues contained in both the years being identical, are taken up for disposal together for the sake of convenience and we take up ITA No. 103/Asr/2024, first.

3.

ITA No.103/Asr/2024:

The order continues below.

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