East India Housing and Land Development Trust Ltd. v. CIT

42 ITR 49Supreme Court of India1961#680 most cited

What is East India Housing and Land Development Trust Ltd. v. CIT authority for?

Rental income from immovable property owned by an assessee must be assessed under the head 'Income from House Property' (Section 22), even if the assessee is engaged in the business of real estate or property development and leasing. This emphasizes the mandatory classification of income under its specific statutory head.

147

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2005 to 2026.

Also referred to as

East India Housing and Land Development Trust Ltd. v. CIT · 42 ITR 49 · rental income · income from house property · Section 22 · Section 24 · business income · classification of income · real estate business · property leasing · heads of income

Sections most often in play

Section 143(3)Section 22Section 14Section 10(3)Section 132Section 153ASection 153CSection 24

Issues it is cited on

section 24(a)annual valuehouse property incomesection 194iinterest on securitiessection 22profits and gains of business or professionsection 45section 24fair market valueincome from other sourcessection 32

Judgments citing East India Housing and Land Development Trust Ltd. v. CIT

Vishan Raj Jain (HUF), Hyderabad vs. ACIT Central Circle-1 (2), Hyderabad

In the result, the appeal filed by the assessee is dismissed

ITA 193/HYD/2022[2016-17]Status: DisposedITAT Hyderabad25 May 2023AY 2016-17

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2016-17 Vishan Raj Jain (Huf) Vs. Acit, Central Circle-1(2) 6-3-650, G7 6-3-650, G7, Aaykar Bhawan Maheswari Chambers Opp:L.B.Stadium Somajiguda Basheer Bagh Telangana-500 082 Hyderabad-500 004

For Appellant: Shri K.C.Devdas, CAFor Respondent: Shri K.P.R.R.Murthy, Sr.AR
Section 10Section 10(38)Section 115BSection 142(1)Section 143(2)Section 147Section 148Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad Before Shri Rama Kanta Panda, Accountant Member AND Shri Laliet Kumar, Judicial Member Assessment Year: 2016-17 Vishan Raj Jain (HUF) Vs. ACIT, Central Circle-1(2) 6-3-650, G7 6-3-650, G7, Aaykar Bhawan Maheswari Chambers Opp:L.B.Stadium Somajiguda Basheer Bagh Telangana-500 082 Hyderabad-500 004 PAN : AABHV8792F (Appellant) (Respondent) Assessee by: Shri K.C.Devdas, CA Revenue by: Shri K.P.R.R.Murthy, Sr.AR Date of hearing: 04.05.2023 Date of pronouncement: 25.05.2023 O R D E R Per Shri Laliet Kumar, JM. This appeal filed by the assessee is…

The Asstt. Commissioner of Income Tax, Circle -3, Srinagar vs. M/S Jyoti Limited, Srinagar

In the result, the appeal of the revenue bearing ITA No

ITA 612/ASR/2017[2014-15]Status: DisposedITAT Amritsar24 Feb 2023AY 2014-15

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 24Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No.612/Asr/2017 Assessment Year: 2014-15 Asstt. Commissioner of Income Vs. M/s Jyoti Limited. Gulab Tax, Circle-3, Srinagar. Bhawan, Gupkar Road, Srinagar. [PAN: AABCJ5887G] (Appellant) (Respondent) Appellant by Sh. HitendraBhauraojiNinawe, CIT DR. Respondent by Sh. Rohit Jain & Ms. Manisha Sharma, Advs. Date of Hearing 20.02.2023 Date of Pronouncement 24 .02.2023 ORDER Per:Anikesh Banerjee, JM: The instant appeal of the revenue was filed against the or…

ACIT Central-2 Indore, Indore vs. Shri .Gaurav Tekriwal, Indore

In the result, this appeal of Revenue is dismissed

ITA 62/IND/2021[2015-16]Status: DisposedITAT Indore21 Nov 2022AY 2015-16

Bench: Ms. Madhumita Roy & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2015-16 Acit, Central -2 Shri Gaurav Tekriwal Indore बनाम/ 204, Princess Valley, South Tukoganj, Indore Vs. (Appellant / Revenue) (Respondent / Revenue) Pan: Acppt 1628 Q Assessee By Shri Anil Kamal Garg, Arpit Gaur, Ars Revenue By Shri P.K. Mitra, Cit-Dr Date Of Hearing 21.09.2022 Date Of Pronouncement 21.11.2022

Section 143(2)Section 143(3)Section 2Section 54FSection 55(2)(a)Section 57

…al principles and not on individual beliefs. Further, their Lordships of the Hon'ble Apex Court in the case of United Commercial Bank Ltd. us. CIT (1957) 32 ITR 688 (SC); again in the case of East India Housing and Event Development Trust, Ltd. vs. CIT (1961) 42 ITR 49 (SC); and again in the case of Sultan Brothers Pvt, Ltd. vs. CIT (1964) 51 ITR 353 (SC) were pleased to hold that if an item of income fa1ls specifically under one head, it has to be charged under that head only and no other head. The Hon'ble High Court of Calcutta in the case of CIT vs. General Industrial Society Ltd. (2003) 262 ITR I (Cal.) also…

Deputy Commissioner of Income Tax -3 (1), Indore vs. M/S M.P. Entertainment and Developers Private Limited, Indore

ITA 203/IND/2018[2014-15]Status: DisposedITAT Indore21 Nov 2022AY 2014-15

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: Shri Anil Kamal Garg & Arpit GaurFor Respondent: Shri P.K. Mitra, CIT-DR
Section 139(4)Section 143(3)Section 22Section 23Section 28

…ire income or substantial income was from letting out of property which was the principal business activity, iv) Decisions of Chennai Properties & Rayala Corporation would not apply, v) Case of East India Housing and Land Development Trust Ltd. vs. CIT (1961) 42 ITR 49 applies. ITA Nos.117,118&344/Ind/2017 & 203/Ind/2018 DCIT vs. M. P. Entertainment & Developers Pvt. Ltd. Asst. Years–2011-12 to 2014-15 - 10 – 8.01 Your Honours, the Hon'ble Kerala High Court in the case of CIT vs. Oberon Edifices and Estates Pvt. Ltd. 2019 (3) TM1 1468 (Ker.) has also held that income derived by the assessee by letting out the…

The DCIT-3(1), Indore vs. M/S. M.P. Entertainment & Developers Pvt. Ltd., Indore

ITA 344/IND/2017[2013-14]Status: DisposedITAT Indore21 Nov 2022AY 2013-14

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: Shri Anil Kamal Garg & Arpit GaurFor Respondent: Shri P.K. Mitra, CIT-DR
Section 139(4)Section 143(3)Section 22Section 23Section 28

…ire income or substantial income was from letting out of property which was the principal business activity, iv) Decisions of Chennai Properties & Rayala Corporation would not apply, v) Case of East India Housing and Land Development Trust Ltd. vs. CIT (1961) 42 ITR 49 applies. ITA Nos.117,118&344/Ind/2017 & 203/Ind/2018 DCIT vs. M. P. Entertainment & Developers Pvt. Ltd. Asst. Years–2011-12 to 2014-15 - 10 – 8.01 Your Honours, the Hon'ble Kerala High Court in the case of CIT vs. Oberon Edifices and Estates Pvt. Ltd. 2019 (3) TM1 1468 (Ker.) has also held that income derived by the assessee by letting out the…

The DCIT-3(1), Indore vs. M/S. M.P. Entertainment & Developers Pvt. Ltd., Indore

ITA 118/IND/2017[2012-13]Status: DisposedITAT Indore21 Nov 2022AY 2012-13

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: Shri Anil Kamal Garg & Arpit GaurFor Respondent: Shri P.K. Mitra, CIT-DR
Section 139(4)Section 143(3)Section 22Section 23Section 28

…ire income or substantial income was from letting out of property which was the principal business activity, iv) Decisions of Chennai Properties & Rayala Corporation would not apply, v) Case of East India Housing and Land Development Trust Ltd. vs. CIT (1961) 42 ITR 49 applies. ITA Nos.117,118&344/Ind/2017 & 203/Ind/2018 DCIT vs. M. P. Entertainment & Developers Pvt. Ltd. Asst. Years–2011-12 to 2014-15 - 10 – 8.01 Your Honours, the Hon'ble Kerala High Court in the case of CIT vs. Oberon Edifices and Estates Pvt. Ltd. 2019 (3) TM1 1468 (Ker.) has also held that income derived by the assessee by letting out the…

The DCIT-3(1), Indore vs. M/S. M.P. Entertainment & Developers Pvt. Ltd., Indore

ITA 117/IND/2017[2011-12]Status: DisposedITAT Indore21 Nov 2022AY 2011-12

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: Shri Anil Kamal Garg & Arpit GaurFor Respondent: Shri P.K. Mitra, CIT-DR
Section 139(4)Section 143(3)Section 22Section 23Section 28

…ire income or substantial income was from letting out of property which was the principal business activity, iv) Decisions of Chennai Properties & Rayala Corporation would not apply, v) Case of East India Housing and Land Development Trust Ltd. vs. CIT (1961) 42 ITR 49 applies. ITA Nos.117,118&344/Ind/2017 & 203/Ind/2018 DCIT vs. M. P. Entertainment & Developers Pvt. Ltd. Asst. Years–2011-12 to 2014-15 - 10 – 8.01 Your Honours, the Hon'ble Kerala High Court in the case of CIT vs. Oberon Edifices and Estates Pvt. Ltd. 2019 (3) TM1 1468 (Ker.) has also held that income derived by the assessee by letting out the…

Deputy Commissioner of Income-Tax, Central Circle - 1(1), Pune vs. Balkrishnan Shanmugham Chettiar, Alias S. Balan, Pune

Appeals are dismissed in above terms

ITA 112/PUN/2021[2017-18]Status: DisposedITAT Pune16 Nov 2022AY 2017-18

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

Section 250Section 80Section 80ISection 80i

…marred even if the same have been held as stock in trade. The bedrock of the action of the authorities below is certain decisions which, in turn are based on the judgments of Hon'ble Supreme Court in East India Housing & Land Development Trust VS. CIT (1961) 42 ITR 49 (SC) and S.G. Mercantile Corporation Pvt. Ltd. Vs. CIT (1972) 83 ITR 700 ITA No’s.110 to 112/PUN/2018 for A.Y. 2015-16 to 17-18 (R) M/s. Balkrishna Shanmugham Chettiar Alias S. Balan (SC). It has been held in the latter decision that where a builder, being, owner lets out property for some time pending sale, the income so derived is to be taxed u…

Deputy Commissioner of Income-Tax, Central Circle - 1(1), Pune vs. Balkrishnan Shanmugham Chettiar, Alias S. Balan, Pune

Appeals are dismissed in above terms

ITA 111/PUN/2021[2016-17]Status: DisposedITAT Pune16 Nov 2022AY 2016-17

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

Section 250Section 80Section 80ISection 80i

…marred even if the same have been held as stock in trade. The bedrock of the action of the authorities below is certain decisions which, in turn are based on the judgments of Hon'ble Supreme Court in East India Housing & Land Development Trust VS. CIT (1961) 42 ITR 49 (SC) and S.G. Mercantile Corporation Pvt. Ltd. Vs. CIT (1972) 83 ITR 700 ITA No’s.110 to 112/PUN/2018 for A.Y. 2015-16 to 17-18 (R) M/s. Balkrishna Shanmugham Chettiar Alias S. Balan (SC). It has been held in the latter decision that where a builder, being, owner lets out property for some time pending sale, the income so derived is to be taxed u…

Deputy Commissioner of Income-Tax, Central Circle - 1(1), Pune vs. Balkrishnan Shanmugham Chettiar, Alias S. Balan, Pune

Appeals are dismissed in above terms

ITA 110/PUN/2021[AALPC5158J]Status: DisposedITAT Pune16 Nov 2022

Bench: Shri S.S.Godara & Shri Inturi Rama Raoआयकर अपीलसं. / Ita No’S.110, 111 & 112/Pun/2021 िनधा"रणवष" / Assessment Years : 2015-16, 2016-17 & 2017-18 The Asst. Commissioner Of M/S.Balkrishna Shanmugham Income Tax, Central Circle- Vs Chettiar Alias S. Balan, 1(1), Pune. . 1133/5, Nirankar F.C.Road, Shivaji Nagar, Pune – 411016. Pan: Aalpc 5158 J Appellant/ Assessee Respondent /Revenue Assessee By Shri M R Bhagwat – Ar Revenue By Shr Ramnath P Murkunde – Dr Date Of Hearing 08/09/2022 Date Of Pronouncement 16/11/2022 आदेश/ Order Per S.S.Godara, Jm: These Revenue’S Three Appeals For Ays 2015-16 To 2017-18 Arise Against The Commissioner Of Income Tax(Appeal)-11, Pune’S Separate Orders; All Dated 20.01.2021, Passed In Case Nos.Itba/Apl/S/250/2020-21/1029928824(1), Itba/Apl/S/ 250/2020-21/1029929977(1) & Itba/Apl/S/250/2020- 21/1029930177(1); Respectively, In Proceedings U/S.250 Of The Income Tax Act, 1961 [In Short “The Act”].

Section 250Section 80Section 80ISection 80i

…marred even if the same have been held as stock in trade. The bedrock of the action of the authorities below is certain decisions which, in turn are based on the judgments of Hon'ble Supreme Court in East India Housing & Land Development Trust VS. CIT (1961) 42 ITR 49 (SC) and S.G. Mercantile Corporation Pvt. Ltd. Vs. CIT (1972) 83 ITR 700 ITA No’s.110 to 112/PUN/2018 for A.Y. 2015-16 to 17-18 (R) M/s. Balkrishna Shanmugham Chettiar Alias S. Balan (SC). It has been held in the latter decision that where a builder, being, owner lets out property for some time pending sale, the income so derived is to be taxed u…

Commissioner of Income Tax TDS vs. M/S Mewar Hospital Pvt Ltd

ITA/6/2021HC Rajasthan01 Nov 2022

Bench: SANDEEP MEHTA,KULDEEP MATHUR

M/S Quality Apparel Exporters Pvt Ltd., Mumbai vs. ITO Ward 11(1)(1), Mumbai

In the result, the Ground No

ITA 2352/MUM/2019[2012-13]Status: DisposedITAT Mumbai05 May 2022AY 2012-13

Bench: Shri G.S.Pannu & Shri Pavan Kumar Gadaleita No. 2352 & 2353/Mum/2019 (A.Y: 2012-13 & 2013-14) M/S. Quality Apparel Vs. Ito -Ward -11(1)(1) Exports Pvt Ltd, Room No. 201, Unit No.4, Wicel Bldg, 2Ndfloor,Aayakar Seepz, Midc, Moral, Bhavan, M.K. Road, Andheri (E), Mumbai Mumbai – 400020 400093 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacq1711F Appellant .. Respondent Appellant By : None Respondent By : Mr.T.Shankar.Dr Date Of Hearing 20.04.2022 Date Of Pronouncement 04.05.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: These Are The Appeals Filed The By The Assessee Against The Separate Orders Of The Commissioner Of Income Tax (Appeals)-18, Mumbai Passed U/S 143(3) R.W.S 250 Of The Act.

For Appellant: NoneFor Respondent: Mr.T.Shankar.DR
Section 143(1)Section 143(2)Section 143(3)

…s and said parties have deducted TDS on the rent as per provision of section 1941 of the Income Tax Act, 1961. The Assessing Officer has relied on the decision of Honbie Supreme Court the case of East India Housing and Land Development trust Ld. vs. CIT(1961) 42 ITR 49(SC) and Shambhu Investment (P) Ltd. vs. CIT (263 ITR 143) (SC) and CIT vs. Chennai Properties & Investments Ltd. - 266 ITR 685 (Mad. HC) and taxed the rent or rent agreement between two parties should be assessed under the head income from house property u/s. 22 of the Income Tax Act, 1961, 4.3.1The appellant submitted that the Company was incorpo…

ACIT Circle-7(1), New Delhi vs. Dlf Assets Pvt. Ltd., New Delhi

Accordingly, the order of the ld. CIT (A) is confirmed and the Revenue’s appeal for AY 2013-14 is dismissed

ITA 8526/DEL/2019[2015-16]Status: DisposedITAT Delhi05 May 2022AY 2015-16

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri Satyajeet Goel, CAFor Respondent: Ms. Yagya Saini Kakkar, CIT DR
Section 143(3)Section 80I

…common facilities for which rent was being charged from month to month and, therefore, income derived from said property was income from property which should be assessed as such - Held, yes c. East India Housing and Land Development Trust ltd. v. CIT [1961] 42 ITR 49 (SC) Section 22 of the Income-tax Act, 1961 [corresponding to section 9 of the Indian Income-tax Act, 1922] - Income from house property :- Chargeable as - Assessment year 1953-54 - Whether income derived by assessee company from tenants of shops and stalls was income received from property falling under section 9 15 ITA Nos.8524 to 8526/Del./201…

ACIT Circle-7(1), New Delhi vs. Dlf Assets Pvt. Ltd., New Delhi

Accordingly, the order of the ld. CIT (A) is confirmed and the Revenue’s appeal for AY 2013-14 is dismissed

ITA 8525/DEL/2019[2014-15]Status: DisposedITAT Delhi05 May 2022AY 2014-15

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri Satyajeet Goel, CAFor Respondent: Ms. Yagya Saini Kakkar, CIT DR
Section 143(3)Section 80I

…common facilities for which rent was being charged from month to month and, therefore, income derived from said property was income from property which should be assessed as such - Held, yes c. East India Housing and Land Development Trust ltd. v. CIT [1961] 42 ITR 49 (SC) Section 22 of the Income-tax Act, 1961 [corresponding to section 9 of the Indian Income-tax Act, 1922] - Income from house property :- Chargeable as - Assessment year 1953-54 - Whether income derived by assessee company from tenants of shops and stalls was income received from property falling under section 9 15 ITA Nos.8524 to 8526/Del./201…

ACIT Circle-7(1), New Delhi vs. Dlf Assets Pvt. Ltd., New Delhi

Accordingly, the order of the ld. CIT (A) is confirmed and the Revenue’s appeal for AY 2013-14 is dismissed

ITA 8524/DEL/2019[2013-14]Status: DisposedITAT Delhi05 May 2022AY 2013-14

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri Satyajeet Goel, CAFor Respondent: Ms. Yagya Saini Kakkar, CIT DR
Section 143(3)Section 80I

…common facilities for which rent was being charged from month to month and, therefore, income derived from said property was income from property which should be assessed as such - Held, yes c. East India Housing and Land Development Trust ltd. v. CIT [1961] 42 ITR 49 (SC) Section 22 of the Income-tax Act, 1961 [corresponding to section 9 of the Indian Income-tax Act, 1922] - Income from house property :- Chargeable as - Assessment year 1953-54 - Whether income derived by assessee company from tenants of shops and stalls was income received from property falling under section 9 15 ITA Nos.8524 to 8526/Del./201…

Nisarg Realtors Pvt Ltd., Thane vs. ACIT 15 (2)(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 7719/MUM/2019[2013-14]Status: DisposedITAT Mumbai28 Apr 2022AY 2013-14

Bench: Shri Prashant Maharishi, Am & Shri Amarjit Singh, Jm Nisarg Realtors Pvt. Ltd. The Asst. Commissioner Of Office No. 2 & 3, Meezzanine Income–Tax Flr Vihang Vihar Circle 15(2)(1), Vs. 4Th Floor, 403, Aayakar Bhavan, Panchpakahadi, Thane West, M.K. Road, Mumbai – 400 020 Mumbai–400 602 (Appellant) (Respondent) Pan No.Aahca9368D Assessee By : Ms. Nishita Mandalaywala, Ca Revenue By : Shri C.T. Mathews, Dr Date Of Hearing: 21.04.2022 Date Of Pronouncement : 28.04.2022

For Appellant: Ms. Nishita Mandalaywala, CAFor Respondent: Shri C.T. Mathews, DR
Section 143(3)Section 194

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI AMARJIT SINGH, JM Nisarg Realtors Pvt. Ltd. The Asst. Commissioner of Office no. 2 & 3, Meezzanine income–tax FLR Vihang Vihar Circle 15(2)(1), Vs. 4th floor, 403, Aayakar Bhavan, panchpakahadi, Thane West, M.K. Road, Mumbai – 400 020 Mumbai–400 602 (Appellant) (Respondent) PAN No.AAHCA9368D Assessee by : Ms. Nishita Mandalaywala, CA Revenue by : Shri C.T. Mathews, DR Date of hearing: 21.04.2022 Date of pronouncement : 28.04.2022 O R D E R PER PRASHANT MAHARISHI, AM: 01. This appeal is filed by Nisarg Realtors Pv…

Travancore Sugars and Chemicals Ltd vs. Commissioner of Income Tax

ITA/12/2008HC Kerala31 Mar 2022

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS,HONOURABLE MR.JUSTICE BASANT BALAJI

…y of circumstances of a case. The assessee in the subject Assessment Year has shown the rental income as income from the business. The assessee's case is that regarding operational advantages the assessee derives by letting out the godown to 4 (1961) 42 ITR 49 5 (1962) 44 ITR 362 6 (1967) 66 ITR 596 ITA Nos.11/2008, 12/2008, 279/2010, 282/2010, 292/2010 -16- KSBC, the rental income earned from such activity be reckoned as income from the business. According to him, the said argument is without merit. That, the mere fact the assessee derives operational advantage is not the criteria fo…

Travancore Sugars and Chemicals Ltd vs. Deputy Commssr;Income Tax, C-I, Thiruvalla

ITA/279/2010HC Kerala31 Mar 2022

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS,HONOURABLE MR.JUSTICE BASANT BALAJI

…y of circumstances of a case. The assessee in the subject Assessment Year has shown the rental income as income from the business. The assessee's case is that regarding operational advantages the assessee derives by letting out the godown to 4 (1961) 42 ITR 49 5 (1962) 44 ITR 362 6 (1967) 66 ITR 596 ITA Nos.11/2008, 12/2008, 279/2010, 282/2010, 292/2010 -16- KSBC, the rental income earned from such activity be reckoned as income from the business. According to him, the said argument is without merit. That, the mere fact the assessee derives operational advantage is not the criteria fo…

ITO 25(2)(5), Mumbai vs. Kirit Raojibhai Patel, Mumbai

In the result appeal of the learned AO is dismissed

ITA 2339/MUM/2017[2007-08]Status: DisposedITAT Mumbai14 Feb 2022AY 2007-08

Bench: Sri Prashant Maharishi, Am & Sri Pavan Kumar Gadale, Jm The Income Tax Officer- Kirit Raojibhai Patel 25(2)(5) 5Th Floor Ram Niwas, 34, Room No. 506, C-10, Vallabhnagar, N.S. Road, Vs. Pratyakshakar Bhavan, Bkc, Juhu, Vile Parele(W), Mumbai-400 051 Mumbai-400 049 (Appellant) (Respondent) Pan No. Aabpp3139J Assessee Represented By : Shri Rashmikant Choksey, Ar Department Represented By : Shri K.K. Mishra, Cit Dr Date Of Hearing: 08.12.2021 Date Of Pronouncement : 14.02.2022

Section 143(3)Section 148Section 2Section 45Section 50Section 54Section 54F

…nt sources falling under a specific head has to be computed for the purposes of taxation in the manner provided by the appropriate section and no other. It has been further held by this court in East India Housing and Land Development Trust Ltd. v. CIT (1961) 42 ITR 49 that if the income from a source falls within a specific head, the fact that it may indirectly be covered by another head will not make the income taxable under the latter head. (See also CIT v. Chugandas and Co. (1965) 55 ITR 17 (SC). Kirit Raojibhai Patel; AY 07-08 (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time simil…

Dy. Commissioner of Income Tax, Circle-1(2), Hyderabad vs. Cache Properties Private Limited, Hyderabad

In the result, the Revenue’s appeal is dismissed

ITA 124/HYD/2020[2012-13]Status: DisposedITAT Hyderabad07 Oct 2021AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

For Respondent: Sri Rohit Mujumdar, D.R
Section 115Section 115JSection 143(2)Section 143(3)Section 24Section 263

…see. On those facts, this Court came to the conclusion that judgment of this Court in Karanpura Development Co. Ltd. V. CIT [1962] 44 ITR 362(SC) was applicable and the judgment of this Court in East India Housing & Land development Trust Ltd., Vs. CIT [1961] 42 ITR 49 (SC) was held to be distinguishable. In the present case, we find that situation is just the reverse. The judgment in east India Housing and Land Development Trust Ltd. (supra) which would be applicable which is discussed in para 8 of Chennai properties & investment Ltd., (supra) and the reproduction thereof would bring home the point we are canvas…