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

Carmel Educational Trust, Pathanamthitta vs. DCIT, Cen- Circle, Kottayam

In the result, the appeals of the assesses in ITA no

ITA 308/COCH/2019[2008-09]Status: DisposedITAT Cochin30 Sept 2019AY 2008-09

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Carmel Educational Trust, Pathanamthitta vs. DCIT, Cen- Circle, Kottayam

In the result, the appeals of the assesses in ITA no

ITA 307/COCH/2019[2007-08]Status: DisposedITAT Cochin30 Sept 2019AY 2007-08

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Carmel Educational Trust, Pathanamthitta vs. DCIT, Cen- Circle, Kottayam

In the result, the appeals of the assesses in ITA no

ITA 306/COCH/2019[2006-07]Status: DisposedITAT Cochin30 Sept 2019AY 2006-07

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Carmel Educational Trust, Pathanamthitta vs. DCIT, Cen- Circle, Kottayam

In the result, the appeals of the assesses in ITA no

ITA 305/COCH/2019[2005-06]Status: DisposedITAT Cochin30 Sept 2019AY 2005-06

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Carmel Educational Trust, Pathanamthitta vs. DCIT, Kottayam

In the result, the appeals of the assesses in ITA no

ITA 304/COCH/2019[2004-05]Status: DisposedITAT Cochin30 Sept 2019AY 2004-05

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Sri.Jose Thomas, Adoor vs. The DCIT, Cen-Circle, Kottayam

In the result, the appeals of the assessesin ITA no

ITA 30/COCH/2019[2007-08]Status: DisposedITAT Cochin30 Sept 2019AY 2007-08

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Sri.Jose Thomas, Adoor vs. The DCIT, Cen-Circle, Kottayam

In the result, the appeals of the assessesin ITA no

ITA 29/COCH/2019[2006-07]Status: DisposedITAT Cochin30 Sept 2019AY 2006-07

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Sri.Jose Thomas, Adoor vs. The DCIT, Cen-Circle, Kottayam

In the result, the appeals of the assessesin ITA no

ITA 28/COCH/2019[2005-06]Status: DisposedITAT Cochin30 Sept 2019AY 2005-06

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Sri.Jose Thomas, Adoor vs. The DCIT, Cen-Circle, Kottayam

In the result, the appeals of the assessesin ITA no

ITA 27/COCH/2019[2004-05]Status: DisposedITAT Cochin30 Sept 2019AY 2004-05

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

The ACIT Cen-Circle, Kottayam vs. Smt.Gracy Babu, Adoor P.O

In the result, the appeals of the assesses in ITA no

ITA 239/COCH/2019[2011-12]Status: DisposedITAT Cochin30 Sept 2019AY 2011-12

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

The ACIT, Cen-Circle, Kottayam vs. Sri.Jose Thomas, Adoor

In the result, the appeals of the assesses in ITA no

ITA 238/COCH/2019[2011-12]Status: DisposedITAT Cochin30 Sept 2019AY 2011-12

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Sri.Jose Thomas, Adoor P.O., Pathanamthitta vs. The ACIT, Cen-Circle, Kottayam

In the result, the appeals of the assessesin ITA no

ITA 213/COCH/2019[2011-12]Status: DisposedITAT Cochin30 Sept 2019AY 2011-12

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Mrs.Gracy Babu, Adoor P.O., Pathanamthitta vs. The DCIT, Cen-Circle, Kottayam

In the result, the appeals of the assessesin ITA no

ITA 210/COCH/2019[2011-12]Status: DisposedITAT Cochin30 Sept 2019AY 2011-12

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…t 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). (14) Section 14 of the Income Tax Act, 1961 as it stood at the relevant time similarly provided that "all income…

Gulmohar Park Mall Pvt. Ltd., Ahmedabad vs. The Dy.CIT, Circle-4, Ahmedabad

In the result, both appeals are allowed as indicated above

ITA 3560/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad27 Aug 2019AY 2011-12
Section 143(3)Section 57Section 57(2)(iii)

…f income and by which claiming the deductions/expenses which are not allowable as per the law. Reliance is put on the following legal decisions relevant to the present case: (a) East India Housing & Land Development Trust Ltd. Vs. Commissioner of Income tax (42 ITR 49 [SC] 1961): Income received from tenants from shops and staffs by an assessee company formed with an object of developing landed properties is liable to be taxed as property income and not as business income. Further, in this case it was also held that income from tenants of shops and stalls is income from property irrespective of the fact that it…

Gulmohar Park Mall Pvt. Ltd., Ahmedabad vs. The Dy.CIT, Circle-4, Ahmedabad

In the result, both appeals are allowed as indicated above

ITA 3559/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad27 Aug 2019AY 2010-11
Section 143(3)Section 57Section 57(2)(iii)

…f income and by which claiming the deductions/expenses which are not allowable as per the law. Reliance is put on the following legal decisions relevant to the present case: (a) East India Housing & Land Development Trust Ltd. Vs. Commissioner of Income tax (42 ITR 49 [SC] 1961): Income received from tenants from shops and staffs by an assessee company formed with an object of developing landed properties is liable to be taxed as property income and not as business income. Further, in this case it was also held that income from tenants of shops and stalls is income from property irrespective of the fact that it…

DCIT 3 (1)(1), Mumbai vs. Banzai Estates Pvt. Ltd., Mumbai

ITA 3688/MUM/2018[2011-12]Status: DisposedITAT Mumbai21 Aug 2019AY 2011-12

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Aayakr Apila Sam./ Ita No. 3688/Mum/2018 (Inaqa-Arna Baya- / Assessment Year 2011-12) The Dy. Commissioner Of Banzai Estates Pvt. Ltd. Income Tax, 49, Bajaj Bhavan, Nariman Point, Vs. Room No. 607, Aayakar Mumbai-400 021 Bhavan, Mumbai-400 020 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थायी लेखा िं./Pan No. Aaacb6915C अपीलाथी की ओर े / Appellant By : Shri Chaudhary Arun Kumar Singh, Cit Dr प्रत्यथी की ओर े / Respondent By : Shri Rohit Golecha, Ar ुनवाई की तारीख / Date Of Hearing: 13.08.2019 घोषणा की तारीख / Date Of Pronouncement : 21.08.2019 Aadosa / O R D E R

For Appellant: Shri Chaudhary Arun Kumar SinghFor Respondent: Shri Rohit Golecha, AR
Section 143(3)

…आयकर अपीलीय अधिकरण “B” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष। BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 3688/Mum/2018 (inaQa-arNa baYa- / Assessment Year 2011-12) The Dy. Commissioner of Banzai Estates Pvt. Ltd. Income Tax, 49, Bajaj Bhavan, Nariman Point, Vs. Room No. 607, Aayakar Mumbai-400 021 Bhavan, Mumbai-400 020 .. (p`%yaqaaI- / Respondent) (ApIlaaqaI- / Appellant) स्थायी लेखा िं./PAN No. AAACB6915C अपीलाथी की ओर े / Appellant by : Shri Chaudhary Arun Kumar Si…

ACIT 3(1)(2), Mumbai vs. Faery Estates P.Ltd, Mumbai

In the result, this appeal of Revenue is dismissed

ITA 4261/MUM/2016[2012-13]Status: DisposedITAT Mumbai19 Aug 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Rajesh Kumar

For Appellant: Shri N.S. Jangpangi, CIT-DRFor Respondent: Shri Chetan Karia, AR
Section 22Section 24Section 37

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “C”, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA No. A.Y. Appellant Respondent M/s. Faery Estates Pvt. 4261/Mum/16 2012-13 Ltd., ACIT-3(1)(2), 70, Nagindas Master MUMBAI Road, Fort, MUMBAI 4262/Mum/16 2011-12 [PAN: AAACF5718K] Appellant by : Shri N.S. Jangpangi, CIT-DR, Respondent by : Shri Chetan Karia, AR Date of Hearing : 25-06-2019 Date of Pronouncement : 19-08-2019 O R D E R PER RAJESH KUMAR, A.M: These two appeals filed by the Revenue are directed against the order(s) of the Commissioner of Income Ta…

M/S. Shree Balaji Ventures, Pune vs. Income-Tax Officer, Ward - 7(3), Pune

In the result, the appeal of assessee is allowed

ITA 402/PUN/2018[2014-15]Status: DisposedITAT Pune06 Aug 2019AY 2014-15

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Vipin GujrathiFor Respondent: Shri N. Ashok Babu
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…

Deputy Commissioner of Income Tax, Circle - 4, Guwahati vs. M/S. A. T. C. Realtors Pvt. Ltd., Guwahati

In the result, both the appeals of the Revenue are dismissed

ITA 170/GTY/2018[2013-14]Status: DisposedITAT Guwahati10 Jul 2019AY 2013-14

Bench: Sri S.S. Godara, Jm & Dr. A.L. Saini, Am Aayakr Apila Sam./ Ita No. 169/Gau/2018 (Inaqa-Arna Baya- / Assessment Year 2012-13) Aayakr Apila Sam./ Ita No. 170/Gau/2018 (Inaqa-Arna Baya- / Assessment Year 2013-14) Dy. Commissioner Of Income-Tax, M/S Atc Realtors Pvt. Ltd. Circle-4, Aayakar Bhwawan, 5Th C/O. Atc Assam Ltd, Kedar Vs. Floor, Christanbasti, G.S. Road, Road, Machkhowa, Guwahati-781005 Guwahati-781001 (Apilaaqai- / Appellant) .. (P`%Yaqaai- / Respondent) स्थायी ऱेखा सं./Pan No. Aagca5209A

For Appellant: Shri Sandeep Sengupta, JCITFor Respondent: Shri Somnath Ghosh, Advocate
Section 143Section 22

…ught to tax under any other head. Assessment under this head is not only proper but obligatory. M/s ATC Realtors Pvt. Ltd. ITA No. 169 & 170/GAU/2018 In fact, the Hon'ble Supreme Court has held in the case of East India Housing and Development Trust vs. CIT 42 ITR 49 that if a company incorporated with the objects of buying and developing landed properties and promoting and developing markets, purchases some land, sets up a market therein and realizes rent from tenants of shops and stalls in the market, the income so derived must be computed for assessment purposes under the head "Income from House property". I…

Deputy Commissioner of Income Tax, Circle - 4, Guwahati vs. M/S. A. T. C. Realtors Pvt. Ltd., Guwahati

In the result, both the appeals of the Revenue are dismissed

ITA 169/GTY/2018[2012-13]Status: DisposedITAT Guwahati10 Jul 2019AY 2012-13

Bench: Sri S.S. Godara, Jm & Dr. A.L. Saini, Am Aayakr Apila Sam./ Ita No. 169/Gau/2018 (Inaqa-Arna Baya- / Assessment Year 2012-13) Aayakr Apila Sam./ Ita No. 170/Gau/2018 (Inaqa-Arna Baya- / Assessment Year 2013-14) Dy. Commissioner Of Income-Tax, M/S Atc Realtors Pvt. Ltd. Circle-4, Aayakar Bhwawan, 5Th C/O. Atc Assam Ltd, Kedar Vs. Floor, Christanbasti, G.S. Road, Road, Machkhowa, Guwahati-781005 Guwahati-781001 (Apilaaqai- / Appellant) .. (P`%Yaqaai- / Respondent) स्थायी ऱेखा सं./Pan No. Aagca5209A

For Appellant: Shri Sandeep Sengupta, JCITFor Respondent: Shri Somnath Ghosh, Advocate
Section 143Section 22

…ught to tax under any other head. Assessment under this head is not only proper but obligatory. M/s ATC Realtors Pvt. Ltd. ITA No. 169 & 170/GAU/2018 In fact, the Hon'ble Supreme Court has held in the case of East India Housing and Development Trust vs. CIT 42 ITR 49 that if a company incorporated with the objects of buying and developing landed properties and promoting and developing markets, purchases some land, sets up a market therein and realizes rent from tenants of shops and stalls in the market, the income so derived must be computed for assessment purposes under the head "Income from House property". I…