Universal Plast Ltd. v. CIT

SKM STEEL LIMITED (SKM ALLOYS PRIVATE LIMITED),MUMBAI vs. CIT(A) 49 COMMISSIONER OF INCOME TAX, MUMBAI

In the result, the appeal of the assessee is allowed for statistical purpose

Bench: Shri Rahul Chaudhary & Shri Bijayananda Prusethskm Steel Ltd.(Skm Alloys Vs. Cit(A) 49 Commissioner Of Income Tax, Pvt. Ltd.), Pratishtha Bhawan Mumbai-4000020. 2Nd Floor Shri Gajanan Darshan Building 30 C.P Tank Road, Mumbai- 400004. Pan/Gir No: Aadcs7801F (Appellant) (Respondent)

…facts and in law, the learned CIT(A) erred in dismissing the appeal and accepting the treatment of lease income as income from House Property by the learned AO by relying on the decision of the Hon. Supreme Court in the case of Universal Plast Limited vs CIT 237 ITR 454, without appreciating that the facts of the case were different from those of the appellant's case. (4) Appellant prays for leave to add, amend or delete any ground/s of appeal on or before the final date of hearing.” 3. Facts of the case in brief are that the assessee filed its return of income for the AY 2007-08 on 24.09.2007 declaring total i…