Which sections of the Income Tax Act does East India Housing and Land Development Trust Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 143(3), Section 22, Section 14, Section 10(3), Section 132, Section 153A.

East India Housing and Land Development Trust Ltd. v. CIT (42 ITR 49)

Q: 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.

Q: How many judgments cite East India Housing and Land Development Trust Ltd. v. CIT?

147 judgments on BharatTax cite East India Housing and Land Development Trust Ltd. v. CIT (42 ITR 49), spanning 2005 to 2026.

DCIT, New Delhi vs. M/S Arham It Infrastructure Pvt. Ltd., New Delhi

In the result the appeal of the Revenue in ITA No

ITA 5300/DEL/2016[2012-13]Status: DisposedITAT Delhi27 Jul 2021AY 2012-13

Bench: Shri N.K. Billaiya & Shri K.N. Chary[A.Y 2013-14]

For Appellant: Shri Sudesh Garg, AdvFor Respondent: Shri Jagdish Singh, Sr. DR

…red the case laws as reproduced above. None of the case laws are applicable to the facts of the case as discussed below:- S. No. Cases laws relied upon by Ld. Remarks AO 1. East India Housing and Land Dev. In this case, the company was Trust Ltd. vs CIT (SC) 42 ITR 49 engaged in the development & construction of shops. The income was received from let out of such shops. There were no separate receipts for maintenance of common facilities as in the case of the appellant. 2. Tinsukia Development Corporation The company obtained leasehold Ltd. vs CIT (Cat) 120 ITR 466 land from government and set up bastis thereon.…

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

Appeal is allowed in above terms

ITA 366/HYD/2019[2012-13]Status: DisposedITAT Hyderabad04 Feb 2021AY 2012-13

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri P.Murali Mohana Rao, ARFor Respondent: Shri Sunil Kumar Pandey, DR

Section 143(3)Section 263

…ssable to tax under the head “income from house property” and it could not be altered merely because assessee company has been conferred with the object of setting up and developing landed properties (East India Housing and Land Development Trust Ltd., [1961] 42 ITR 49 (SC) ). However, the fact remains that this can be settled only when the AO applies his mind to the issue. In the backdrop of the available rulings of the Hon’ble Supreme Court, as rightly pointed out by the CIT, the Hon’ble Supreme Court in the recent past observed (M/s Rayala Corporation Pvt. Ltd. Vs. ACIT, 386 ITR 500) that in the event of leasi…

DCIT, New Delhi vs. M/S. Kenmore Vikas India (P) Ltd., New Delhi

In the result the appeal of the revenue is dismissed

ITA 2673/DEL/2017[2012-13]Status: DisposedITAT Delhi30 Sept 2020AY 2012-13

Bench: Shri R.K. Panda & Ms Suchitra Kambleasstt. Year 2012-13

For Respondent: Shri Arun Kumar Yadav, Sr. DR

Section 14Section 24

…rticular source, which determines the nature of the receipt and if it falls under one particular head, it has to be charged under that head and no other. The landmark decisions of UCO Bank Ltd.(32 ITR 688) and East India Housing & Land Development Trust Ltd. (42 ITR 49), which were both Three Judge Bench decisions of the Supreme Court were perused wherein 5 DCIT vs. Kenmore Vikas India (P) Ltd. it had been held that various sections were available in the IT Act, 1922 (sections 7 to 12) corresponding to sections available in the IT Act, 1961 (sections 15 to 58) to direct the modes in which the income is to be a…

Assistant Commissioner of Income Tax 3(1)(2), Mumbai vs. Faery Estates Private Limited, Mumbai

In the result, this appeal of Revenue is dismissed

ITA 6419/MUM/2017[2013-14]Status: DisposedITAT Mumbai13 Jul 2020AY 2013-14

Bench: Shri C.N. Prasad, Jm & Shri M.Balaganesh, Am Acit-3(1)(2) Vs. M/S. Faery Estates Pvt. Room No.607, 6Th Floor Ltd., Aayakar Bhavan 70, Nagindas Master Road Mumbai – 400 020 Fort, Mumbai – 400 023 Pan/Gir No.Aaacf5718K (Appellant) .. (Respondent)

Section 143(3)Section 22Section 24Section 37

…e and came to the reasonable and correct view that income is to be assessed u/s.23 of the Act. Ld.DR, relied heavily on the order of AO and in the case of CIT Vs. Shambhu Investment Pvt. Ltd., [249 ITR 7], East India Housing & Development Trust Ltd., Vs. CIT [42 ITR 49] (SC) and CIT Vs. Ansal Housing Finance & Leasing Co. Ltd., [29 taxmann.com 303] (Del) and thus prayed for the Bench that the order of CIT(A) may kindly be reversed that of AO may be restored. 3.4. Ld.AR, on the other hand, submitted that assessee has developed an Information Technology Park in Chennai. Ld.AR also referred to the Memorandum of Asso…

M/S. G G Associates, Pune vs. Deputy Commissioner of Income-Tax, Circle - 7, Pune

In the result, the appeal is allowed

ITA 1946/PUN/2017[2013-14]Status: DisposedITAT Pune07 Jul 2020AY 2013-14

Bench: Shri R. S. Syal, Vp & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita No.1946/Pun/2017 िनधा"रण वष" / Assessment Year : 2013-14 M/S. G. G. Associates, San Mahu Complex 5, Bund Garden Road, Opp. Poona Club, Pune-411001. Pan: Aaffg5234G ……….. आवेदक/Applicant बनाम / V/S. Dcit, Circle-7, Pune. ..……""यथ" / Respondent Assessee By : Shri Krishana Gujarathi Revenue By : Shri Maruti W. Maddewad सुनवाई क" तारीख / Date Of Hearing : 03.07.2020 घोषणा क" तारीख / Date Of Pronouncement : 07.07.2020 आदेश / Order Per Partha Sarathi Chaudhury, Jm: This Appeal Preferred By The Assessee Emanates From The Order Of The Ld. Cit(Appeal), Pune-5 Dated 15.06.2017 For The Assessment Year 2013-14 As Per The Following Grounds Of Appeal On Record: “1) On The Facts & In The Circumstances Of The Case & In Law, The Honourable Cit (Appeal) - 5, Pune Erred In Confirming The Addition Made By The Learned Ao Of Rs. 1,26,000/- To The Income Of The Appellant Under The Head “Income From House Property” Being The Annual Letting Value Of The Unsold Units Lying As Stock In Trade Of The Appellant Without Appreciating The Fact That The Appellant Is Engaged In The Business Of Real Estate Development & The Unsold Flats Are Held As Stock In Trade & Not As Investment. The Appellant Hereby Prays That The Said Addition Of Rs.1,26,000/- May Please Be Deleted.

For Appellant: Shri Krishana GujarathiFor Respondent: Shri Maruti W. Maddewad

Section 23Section 23(4)

…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 (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 under the head “Income from house property” and not as “Business income”. So the ratio is that even if a builder…

Falcon Vincon Private Limited, Bengaluru vs. Pr.CIT-3, Kolkata

In the result, the appeal of the assessee is allowed

ITA 1159/KOL/2019[2014-15]Status: DisposedITAT Kolkata07 Feb 2020AY 2014-15

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Falcon Vincon Private Limited Vs. Pr. Cit-3, Kolkata 102, Tower No.12, Shriram Sameeksha, New Gangamma Gudi Police Station Road, Naidu Layout, Bengaluru "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcf3203C (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

For Appellant: Shri A. K. Tibrewal, FCAFor Respondent: Dr. P. K. Srihari, CIT(DR)

Section 143(3)Section 263Section 263(3)

…oduction thereof would bring home the point we are canvassing: "8. With this background, we first refer to the judgment of this Court in East India Housing and Land Development Trust Ltd. case [East India Housing and Land Development Trust Ltd. v. CIT, [1961] 42 ITR 49 (SC)] which has been relied upon by the High Court. That was a case where the company was incorporated with the object of buying and developing landed properties and promoting and developing markets. Thus, the main objective of the company was to develop the landed properties into markets. It so happened that some shops and stalls, which were devel…

M/S. Parmar Properties Pvt.Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 4, Pune

Appeal are allowed

ITA 2262/PUN/2017[2013-14]Status: DisposedITAT Pune20 Jan 2020AY 2013-14

Bench: Shri Anil Chaturvedi, Am & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita Nos. 2261 & 2262/Pun/2017 नििाारण वषा / Assessment Years : 2011-12 & 2013-14

For Appellant: Shri Jatin C. ShahFor Respondent: Shri Pankaj Garg

Section 143(3)Section 148Section 24

…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 (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 under the head “Income from house property” and not as “Business income”.So the ratio is that even if a builder l…

M/S. Parmar Properties Pvt.Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 4, Pune

Appeal are allowed

ITA 2261/PUN/2017[2011-12]Status: DisposedITAT Pune20 Jan 2020AY 2011-12

Bench: Shri Anil Chaturvedi, Am & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita Nos. 2261 & 2262/Pun/2017 नििाारण वषा / Assessment Years : 2011-12 & 2013-14

For Appellant: Shri Jatin C. ShahFor Respondent: Shri Pankaj Garg

Section 143(3)Section 148Section 24

…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 (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 under the head “Income from house property” and not as “Business income”.So the ratio is that even if a builder l…

Mr. Sunil Goyal, Noida vs. ITO, New Delhi

Appeal is disposed of in accordance with the aforesaid directions

ITA 719/DEL/2010[2006-07]Status: DisposedITAT Delhi26 Nov 2019AY 2006-07

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

For Appellant: Shri R. Santhanam, Adv. and Shri Deepak Ostwal, CA and Shri Rishabh Ostwal, AdvFor Respondent: Shri Saras Kumar, Sr. DR

Section 28

…een from the judgements of the Supreme Court in the cases of - i) CIT Vs. D.P. Sandhu Bros. Chembur (P) Ltd. (2005) 273ITR 1 (SC) ii) United Commercial Bank Ltd.Vs.CIT (1957) 32 ITR 688(SC) iii) East India Housing and Land Development Trust Ltd. Vs.CIT(1961) 42 ITR 49 (SC) Page 36 of 42 ITA No.- 719/Del/2010 Shri Sunil Goyal. iv) CIT Vs. Chugandas & Co. (1964) 55 ITR 17(SC) v) S G Mercantile Corporation Vs. CIT (1972) 83 ITR 700 (SC) 8. In the present case there is no dispute that the shares were held by the assessee as long term capital asset and hence the same should taxed only under the head ‘capital gain’…

Dynacon Equipments Pvt Ltd., Chennai vs. ACIT Corporate Circle 1(4), Chennai

In the result, the appeal filed by assessee in ITA

ITA 2263/CHNY/2018[2009-10]Status: DisposedITAT Chennai21 Nov 2019AY 2009-10

Bench: Shri Ramit Kochar & Shri Duvvuru R.L.Reddy

For Appellant: Mr.Srinivasa Rao Vana, JCITFor Respondent: 21.11.2019

Section 143(3)Section 147Section 148

…ssee. 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. v. 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 & Investments Ltd. case (supra) and the reproduction thereof would bring home the point we are c…

Dynacon Equipments Pvt. Ltd., Chennai vs. ACIT Corporate Circle 1(4), Chennai

In the result, the appeal filed by assessee in ITA

ITA 2172/CHNY/2018[2006-07]Status: DisposedITAT Chennai21 Nov 2019AY 2006-07

Bench: Shri Ramit Kochar & Shri Duvvuru R.L.Reddy

For Appellant: Mr.Srinivasa Rao Vana, JCITFor Respondent: 21.11.2019

Section 143(3)Section 147Section 148

…ssee. 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. v. 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 & Investments Ltd. case (supra) and the reproduction thereof would bring home the point we are c…