M/s. Rayala Corporation (P) Ltd., CHENNAI v. ACIT, CHENNAI

ITA 1464/CHNY/2011 | 2008-2009
Pronouncement Date: 06-02-2012 | Result: Dismissed

Appeal Details

RSA Number 146421714 RSA 2011
Assessee PAN AABCR7230D
Bench Chennai
Appeal Number ITA 1464/CHNY/2011
Duration Of Justice 5 month(s) 11 day(s)
Appellant M/s. Rayala Corporation (P) Ltd., CHENNAI
Respondent ACIT, CHENNAI
Appeal Type Income Tax Appeal
Pronouncement Date 06-02-2012
Appeal Filed By Assessee
Order Result Dismissed
Bench Allotted A
Tribunal Order Date 06-02-2012
Date Of Final Hearing 06-02-2012
Next Hearing Date 06-02-2012
Assessment Year 2008-2009
Appeal Filed On 25-08-2011
Judgment Text
IN THE INCOME-TAX APPELLATE TRIBUNAL CHENNAI A BENCH CHENNAI. BEFORE SHRI N.S. SAINI ACCOUNTANT MEMBER & SHRI GEORGE MATHAN JUDICIAL MEMBER I.T.A. NO. 1464/MDS/2011 ASSESSMENT YEAR: 2008-09 M/S. RAYALA CORPORATION (P) LTD. 144/7 OLD MAHABALIPURAM ROAD KOTTIVAKKAM CHENNAI 600 041. [PAN: AABCR7230D] VS. THE ASSISTANT COMMISSIONER OF INCOME TAX COMPANY CIRCLE V(3) CHENNAI 600 034. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI R. VIJAYARAGHAVAN ADVOCATE REVENUE BY : SHRI SHAJI P. JACOB ADDL. CIT DATE OF HEARING : 06.02.2012 DATE OF PRONOUNCEMENT : 06.02.2012 ORDER PER N.S. SAINI ACCOUNTANT MEMBER THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER OF THE LD. CIT(A) V CHENNAI DATED 27.07.2011 PASSED IN ITA NO . 73/10-11 IN ASSESSMENT YEAR 2008-09. SHRI R. VIJAYARAGHAVAN AD VOCATE REPRESENTED ON BEHALF OF THE ASSESSEE AND SHRI SHAJI P. JACOB ADDL. CIT REPRESENTED ON BEHALF OF THE REVENUE. 2. THE SOLE ISSUE INVOLVED IN THIS APPEAL IS THAT THE LD. CIT(A) ERRED IN CONFIRMING THE ASSESSEES INCOME AS INCOME FROM HOU SE PROPERTY AGAINST INCOME FROM THE BUSINESS AND PROFESSION AS CLAIMED BY THE ASSESSEE. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIALS I.T.A. I.T.A. I.T.A. I.T.A. NO. NO. NO. NO.14 1414 1464 6464 64/M/11 /M/11 /M/11 /M/11 2 AVAILABLE ON RECORD. 4. WE FIND THAT THE LD. CIT(A) HAS DECIDED THE ISS UE AS UNDER: 4. I HAVE GONE THROUGH THE FACTS OF THE CASE AND THE ASSESSMENT ORDER. I HAVE ALSO GONE THROUGH THE ORDER OF THE HO N'BLE ITAT CHENNAI IN ASSESSEE'S OWN CASE FOR THE ASSESSMENT YEAR 2001 -02 A COPY OF WHICH WAS FURNISHED BY THE REPRESENTATIVE OF THE AP PELLANT. IN THE SAID ORDER IN ITA NO. 1 03/MDS/05 DATED 26 TH APRIL 2007 HAS DECIDED IN FAVOUR OF THE REVENUE WHEREIN THE ITAT FOLLOWING THE DECISION OF JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. CH ENNAI PROPERTIES AND INVESTMENTS LTD (266 ITR 685). 5. CONSIDERING THE FACTS AND CIRCUMSTANCES OF THE CASE THE ISSUE INVOLVED IN THE PRESENT APPEAL IS SQUARELY COVERED BY THE ORDER OF THE JURISDICTIONAL BENCH OF THE I TAT CHENNAI AGAINST THE APPELLANT. HOWEVER THE APPELLANT HAS ALREADY PREFERRED AN APP EAL AGAINST THE APPELLANT. HOWEVER THE APPELLANT HAS ALREADY PREFE RRED AN APPEAL AGAINST THE SAID ORDER OF THE ITAT. 6. THE ISSUE IS ALREADY COVERED BY THE ORDER OF TH E JURISDICTIONAL BENCH OF THE TRIBUNAL IN ITA NOS. 103/MDS/05 DATED 26.4.2007. ITA NO. 387 & 388/MDS/2006 DATED 22.9.06. RESPECTFULLY FOLLOWING THE SAME THE APPEAL FILED BY THE APPELLANT IS DISMISSED AND THE ACTION OF THE ASSESSING OFFICER TREATING THE INCOME FROM LETT ING OUT HOUSE PROPERTY IS UPHELD. 5. THE LD. AR OF THE ASSESSEE VERY FAIRLY CONCEDE D THAT THE ISSUE IS DECIDED IN FAVOUR OF THE REVENUE AND AGAINST THE AS SESSEE BY THE ORDERS OF THE TRIBUNAL IN ASSESSEES OWN CASE IN ITA NO. 103/MDS/2005 DATED 26.4.2007 AND ITA NOS. 387 & 388/MDS/2006 DATED 22. 9.06. THE LD. AR FILED A COPY OF THE ORDER DATED 02.12.2009 OF THE TRIBUNA L IN ASSESSMENT YEAR 2005-06 PASSED IN I.T.A. NO. 1473/MDS/2009. 6. AFTER CONSIDERING THE SUBMISSIONS OF THE LD. AR OF THE ASSESSEE WE FIND THAT DURING THE YEAR UNDER CONSIDERATION THE ASSESSEE HAD EARNED I.T.A. I.T.A. I.T.A. I.T.A. NO. NO. NO. NO.14 1414 1464 6464 64/M/11 /M/11 /M/11 /M/11 3 RENTAL INCOME WHICH WAS TREATED AS BUSINESS INCOME . THE ASSESSING OFFICER TREATED THE INCOME FROM SUB-LEASING OF PROPERTIES A S INCOME FROM HOUSE PROPERTY. THE LD. CIT(A) CONFIRMED THE ORDER OF THE ASSESSING OFFICER RELYING ON THE ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE IN I.T.A. NO. 103/MDS/2005 DATED 26.04.2007 AND IN I.T.A. NOS. 38 7 & 388/MDS/2006 DATED 22.09.2006 FOR ASSESSMENT YEARS 2002-03 AND 2 003-04. IT IS ARGUED BY THE LD. AR THAT THE ISSUE IS COVERED AGAINST THE ASSESSEE BY THE AFORESAID ORDERS AS WELL AS THE ORDER OF THE TRIBUNAL FOR THE ASSESSMENT YEAR 2005-06 DATED 02.12.2009 IN I.T.A. NO. 1473/MDS/2009. AS TH E FACTS IN THE PRESENT YEAR ARE IDENTICAL WITH THE FACTS OF THE CASE IN EA RLIER YEARS RESPECTFULLY FOLLOWING THE ORDERS OF THE TRIBUNAL WE CONFIRM TH E ORDER OF THE LD. CIT(A). 7. NO OTHER POINT HAS BEEN URGED BY THE ASSESSEE E XCEPT THE ABOVE POINT. 8. IN THE RESULT THE APPEAL OF THE ASSESSEE IS DI SMISSED. ORDER PRONOUNCED AT THE CLOSE OF THE HEARING IN THE PRESENCE OF THE PARTIES ON 06.02.2012. SD/- SD/- (GEORGE MATHAN) JUDICIAL MEMBER (N.S.SAINI) ACCOUNTANT MEMBER CHENNAI DATED THE 06.02.2012 VM/- TO: THE ASSESSEE//A.O./CIT(A)/CIT/D.R.