Hotels P. Ltd. v. DCIT

Suryavardhan Estates (P) Ltd., Chennai vs. ACIT, Chennai

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.: 462/Chny/2017 िनधा"रण वष" /Assessment Year: 2012-13 The Dcit, M/S. Suryavaradhan Corporate Circle 6(2), V. Estates Pvt. Ltd., 6Th Floor, Dhun Building, Chennai. No.827, Anna Salai, Chennai – 600 002. Pan: Aajcs 5120M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.:697/Chny/2017 िनधा"रण वष" /Assessment Year: 2012 - 13 M/S. Suryavaradhan Estates The Acit, Pvt. Ltd., V. Corporate Circle 6, 6Th Floor, Dhun Building, Chennai. No.827, Anna Salai, Chennai – 600 002. Pan: Aajcs 5120M (अपीलाथ"/Appellant) (""यथ"/Respondent) & C.O. No.: 36/Chny/2017 (In I.T.A. No. 462/Chny/2017 िनधा"रण वष" /Assessment Year: 2012 – 13 M/S. Suryavaradhan Estates The Dcit, Pvt. Ltd., V. Corporate Circle 6(2), 6Th Floor, Dhun Building, Chennai. No.827, Anna Salai, Chennai – 600 002. Pan: Aajcs 5120M (अपीलाथ"/Appellant) (""यथ"/Respondent)

…it would be enough if he establishes that he had invested the entire net consideration within the stipulated period. 2.6 The Ld CIT(A) erred in not following the binding decision of the Jurisdictional High Court in the case of Keyaram Hotels (P) Ltd., Vs ACIT 373 ITR 494 (Madras). SLP dismissed by Supreme Court vide 235 Taxmann 512 (SC) against HC’s ruling that where assessee was not engaged in any business activity, rental income earned from letting out commercial complex would be assessed as income from house property and not as business income. 6 I.T.A. Nos.462 & 697/Chny/2017 & C.O. No.36/Chny/2017 6. Inter…

DCIT, Chennai vs. Suryavardhan Estates Pvt. Ltd., Chennai

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.: 462/Chny/2017 िनधा"रण वष" /Assessment Year: 2012-13 The Dcit, M/S. Suryavaradhan Corporate Circle 6(2), V. Estates Pvt. Ltd., 6Th Floor, Dhun Building, Chennai. No.827, Anna Salai, Chennai – 600 002. Pan: Aajcs 5120M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.:697/Chny/2017 िनधा"रण वष" /Assessment Year: 2012 - 13 M/S. Suryavaradhan Estates The Acit, Pvt. Ltd., V. Corporate Circle 6, 6Th Floor, Dhun Building, Chennai. No.827, Anna Salai, Chennai – 600 002. Pan: Aajcs 5120M (अपीलाथ"/Appellant) (""यथ"/Respondent) & C.O. No.: 36/Chny/2017 (In I.T.A. No. 462/Chny/2017 िनधा"रण वष" /Assessment Year: 2012 – 13 M/S. Suryavaradhan Estates The Dcit, Pvt. Ltd., V. Corporate Circle 6(2), 6Th Floor, Dhun Building, Chennai. No.827, Anna Salai, Chennai – 600 002. Pan: Aajcs 5120M (अपीलाथ"/Appellant) (""यथ"/Respondent)

…it would be enough if he establishes that he had invested the entire net consideration within the stipulated period. 2.6 The Ld CIT(A) erred in not following the binding decision of the Jurisdictional High Court in the case of Keyaram Hotels (P) Ltd., Vs ACIT 373 ITR 494 (Madras). SLP dismissed by Supreme Court vide 235 Taxmann 512 (SC) against HC’s ruling that where assessee was not engaged in any business activity, rental income earned from letting out commercial complex would be assessed as income from house property and not as business income. 6 I.T.A. Nos.462 & 697/Chny/2017 & C.O. No.36/Chny/2017 6. Inter…

ACIT, CC- 6(2), Chennai vs. S.N. Damani Infra Pvt. Ltd., Chennai

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita No.: 3324/Chny/2019 िनधा"रण वष" / Assessment Year: 2014-15 Assistant Commissioner Of Income S.N. Damani Infra Pvt. Ltd., Tax, V. No. 6, Ground Floor, Corporate Circle 6 (2), Rayala Tower, Chennai. 781-785, Anna Salai, Chennai – 600 002. [Pan: Aaocs 0334C] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ar V Sreenivasan, Addl. Cit ""यथ" क" ओर से/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 30.11.2021 आदेश /O R D E R

…आयकर अपीलीय अिधकरण, ‘ए ’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी महावीर "संह, उपा"य" एवं एवं "ी जी. मंजुनाथ, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 3324/Chny/2019 िनधा"रण वष" / Assessment Year: 2014-15 Assistant Commissioner of Income S.N. Damani Infra Pvt. Ltd., Tax, v. No. 6, Ground Floor, Corporate Circle 6 (2), Rayala Tower, Chennai. 781-785, Anna Salai, Chennai – 600 002. [PAN: AAOCS 0334C] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri. AR V Sreenivasan, Addl.…

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ted it out to multiple tenants and was earning rental income therefrom. As per the ld. Departmental Representative , by virtue of judgments of Hon’ble Jurisdictional High Court in the case of Keyaram ITA Nos.2372-2378/2016. :- 5 -: Hotels P. Ltd vs. DCIT, 373 ITR 494 and that of Keyaram Hotels P. Ltd vs. ACIT, 300 ITR 118, such income could be considered only under the head ‘’Income from House Property’’. Ld. Departmental Representative also pointed out that Special Leave Petition filed against the above judgment was dismissed by Hon’ble Apex Court and reported (2015) 235 Taxmann 512. We have considered th…

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ted it out to multiple tenants and was earning rental income therefrom. As per the ld. Departmental Representative , by virtue of judgments of Hon’ble Jurisdictional High Court in the case of Keyaram ITA Nos.2372-2378/2016. :- 5 -: Hotels P. Ltd vs. DCIT, 373 ITR 494 and that of Keyaram Hotels P. Ltd vs. ACIT, 300 ITR 118, such income could be considered only under the head ‘’Income from House Property’’. Ld. Departmental Representative also pointed out that Special Leave Petition filed against the above judgment was dismissed by Hon’ble Apex Court and reported (2015) 235 Taxmann 512. We have considered th…

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ted it out to multiple tenants and was earning rental income therefrom. As per the ld. Departmental Representative , by virtue of judgments of Hon’ble Jurisdictional High Court in the case of Keyaram ITA Nos.2372-2378/2016. :- 5 -: Hotels P. Ltd vs. DCIT, 373 ITR 494 and that of Keyaram Hotels P. Ltd vs. ACIT, 300 ITR 118, such income could be considered only under the head ‘’Income from House Property’’. Ld. Departmental Representative also pointed out that Special Leave Petition filed against the above judgment was dismissed by Hon’ble Apex Court and reported (2015) 235 Taxmann 512. We have considered th…

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ted it out to multiple tenants and was earning rental income therefrom. As per the ld. Departmental Representative , by virtue of judgments of Hon’ble Jurisdictional High Court in the case of Keyaram ITA Nos.2372-2378/2016. :- 5 -: Hotels P. Ltd vs. DCIT, 373 ITR 494 and that of Keyaram Hotels P. Ltd vs. ACIT, 300 ITR 118, such income could be considered only under the head ‘’Income from House Property’’. Ld. Departmental Representative also pointed out that Special Leave Petition filed against the above judgment was dismissed by Hon’ble Apex Court and reported (2015) 235 Taxmann 512. We have considered th…

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ted it out to multiple tenants and was earning rental income therefrom. As per the ld. Departmental Representative , by virtue of judgments of Hon’ble Jurisdictional High Court in the case of Keyaram ITA Nos.2372-2378/2016. :- 5 -: Hotels P. Ltd vs. DCIT, 373 ITR 494 and that of Keyaram Hotels P. Ltd vs. ACIT, 300 ITR 118, such income could be considered only under the head ‘’Income from House Property’’. Ld. Departmental Representative also pointed out that Special Leave Petition filed against the above judgment was dismissed by Hon’ble Apex Court and reported (2015) 235 Taxmann 512. We have considered th…

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ted it out to multiple tenants and was earning rental income therefrom. As per the ld. Departmental Representative , by virtue of judgments of Hon’ble Jurisdictional High Court in the case of Keyaram ITA Nos.2372-2378/2016. :- 5 -: Hotels P. Ltd vs. DCIT, 373 ITR 494 and that of Keyaram Hotels P. Ltd vs. ACIT, 300 ITR 118, such income could be considered only under the head ‘’Income from House Property’’. Ld. Departmental Representative also pointed out that Special Leave Petition filed against the above judgment was dismissed by Hon’ble Apex Court and reported (2015) 235 Taxmann 512. We have considered th…

M/S. J.G. Exports, Chennai vs. ITO, Chennai

In the result, the appeals of the assessee stand dismissed

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 & 2378/ Mds/2016 "नधा"रण वष" /Assessment Years :2005-06, 2006-07, 2007-08, 2008- 09, 2009-10, 2010-11 & 2011-2012. M/S. Jg Exports, Vs. The Income Tax Officer, No.55, Narayanamudali Business Circle X (2) Street, Chennai 600 006. Chennai 600 079. [Pan Aaafj 3129M] (अपीलाथ"/Appellant) (""यथ"/Respondent)

…ted it out to multiple tenants and was earning rental income therefrom. As per the ld. Departmental Representative , by virtue of judgments of Hon’ble Jurisdictional High Court in the case of Keyaram ITA Nos.2372-2378/2016. :- 5 -: Hotels P. Ltd vs. DCIT, 373 ITR 494 and that of Keyaram Hotels P. Ltd vs. ACIT, 300 ITR 118, such income could be considered only under the head ‘’Income from House Property’’. Ld. Departmental Representative also pointed out that Special Leave Petition filed against the above judgment was dismissed by Hon’ble Apex Court and reported (2015) 235 Taxmann 512. We have considered th…

Tamilnadu Tourism Development Corporation Limited, Chennai vs. ACIT, Chennai

In the result, both the appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

…ate the definition of the word 'franchisee' mentioned the dictionary, which reads as follows: "any special right, privilege, or exemption granted by the government, as to be a corporation, operate a public utility, etc." 15. In the decision reported in (2008) 300 ITR 118 (Mad) (Keyaram Hotels (P) Ltd. V. Assistant Commissioner of Income Tax) while dealing with the income earned by the assessee therein by letting out the property, this Court held as follows: "Before the authorities under the Act as well as the Tribunal, the assessee has not placed any materials to support its case that the property from which inco…

Tamilnadu Tourism Development Corporation Limited, Chennai vs. ACIT, Chennai

In the result, both the appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

…ate the definition of the word 'franchisee' mentioned the dictionary, which reads as follows: "any special right, privilege, or exemption granted by the government, as to be a corporation, operate a public utility, etc." 15. In the decision reported in (2008) 300 ITR 118 (Mad) (Keyaram Hotels (P) Ltd. V. Assistant Commissioner of Income Tax) while dealing with the income earned by the assessee therein by letting out the property, this Court held as follows: "Before the authorities under the Act as well as the Tribunal, the assessee has not placed any materials to support its case that the property from which inco…

Keyaram Developers and Hotels P Ltd., Chennai vs. ACIT, Chennai

In the result, I.T.A. No.402/Mds/2013 is dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.402/Mds/2013 "नधा"रण वष" / Assessment Year : 2003-04

…om house property. The Madras High Court placed its reliance on the earlier Division Bench judgment in CIT v. Chennai Properties and Investments Ltd. (2004) 266 ITR 685. For the assessment years 2004-05, 2005-06, 2007-08 and 2008-09, the Ltd. v. DCIT (2015) 373 ITR 494 and by placing reliance on Chennai Properties and Investments Ltd. (supra) and on the assessee's own case for assessment year 2001-02 (supra), the High Court confirmed the order of this Tribunal by holding that the entire rental income has to be assessed as income from house property. According to the Ld. counsel, the basis for the High Cour…

Keyaram Developers and Hotels P Ltd., Chennai vs. ACIT, Chennai

In the result, I.T.A. No.402/Mds/2013 is dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.402/Mds/2013 "नधा"रण वष" / Assessment Year : 2003-04

…om house property. The Madras High Court placed its reliance on the earlier Division Bench judgment in CIT v. Chennai Properties and Investments Ltd. (2004) 266 ITR 685. For the assessment years 2004-05, 2005-06, 2007-08 and 2008-09, the Ltd. v. DCIT (2015) 373 ITR 494 and by placing reliance on Chennai Properties and Investments Ltd. (supra) and on the assessee's own case for assessment year 2001-02 (supra), the High Court confirmed the order of this Tribunal by holding that the entire rental income has to be assessed as income from house property. According to the Ld. counsel, the basis for the High Cour…

Keyaram Hotels Private Limited, Chennai vs. DCIT, Chennai

In the result, I.T.A. No.402/Mds/2013 is dismissed

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.402/Mds/2013 "नधा"रण वष" / Assessment Year : 2003-04

…om house property. The Madras High Court placed its reliance on the earlier Division Bench judgment in CIT v. Chennai Properties and Investments Ltd. (2004) 266 ITR 685. For the assessment years 2004-05, 2005-06, 2007-08 and 2008-09, the Ltd. v. DCIT (2015) 373 ITR 494 and by placing reliance on Chennai Properties and Investments Ltd. (supra) and on the assessee's own case for assessment year 2001-02 (supra), the High Court confirmed the order of this Tribunal by holding that the entire rental income has to be assessed as income from house property. According to the Ld. counsel, the basis for the High Cour…