ASST CIT CEN CIR 29 CEN RG 7, MUMBAI v. ROCKFORT ESTATE DEVELOPERS P.LTD, MUMBAI

ITA 5209/MUM/2014 | 2011-2012
Pronouncement Date: 28-09-2016 | Result: Dismissed

Appeal Details

RSA Number 520919914 RSA 2014
Assessee PAN AABCR7896K
Bench Mumbai
Appeal Number ITA 5209/MUM/2014
Duration Of Justice 2 year(s) 1 month(s) 14 day(s)
Appellant ASST CIT CEN CIR 29 CEN RG 7, MUMBAI
Respondent ROCKFORT ESTATE DEVELOPERS P.LTD, MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 28-09-2016
Appeal Filed By Department
Order Result Dismissed
Bench Allotted D
Tribunal Order Date 28-09-2016
Assessment Year 2011-2012
Appeal Filed On 14-08-2014
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL D IN THE INCOME TAX APPELLATE TRIBUNAL D IN THE INCOME TAX APPELLATE TRIBUNAL D IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH MUMBAI BENCH MUMBAI BENCH MUMBAI BENCH MUMBAI BEFORE BEFORE BEFORE BEFORE SHRI SHRI SHRI SHRI SANJAY GARG SANJAY GARG SANJAY GARG SANJAY GARG JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER AND AND AND AND SHRI SHRI SHRI SHRI ASHWANI TANEJA ASHWANI TANEJA ASHWANI TANEJA ASHWANI TANEJA ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ./I.T.A. NO.5209/MUM/2014 ( / / / / ASSESSMENT YEAR : 2011-12) ASSTT. COMMISSIONER OF INCOME TAX- CENTRAL CIRCLE-29 ROOM NO.411 4 FLOOR AAYAKAR BHAVAN M K ROAD MUMBAI-400020. / VS. M/S ROCKFORT ESTATE DEVELOPERS PVT. LTD. G-1 COURT CHAMBERS GROUND FLOOR V THAKKERSEY MARG 35 NEW MARINE LINE CHURCHGATE MUMBAI-400020 ( / // / APPELLANT) .. ( / RESPONDENT) ./ ./PAN/GIR NO. : AABCR7896K / REVENUE BY SHRI B S BIST /ASSESSEE BY SHRI RAHUL K HAKANI / DATE OF HEARING : 28.09.2016 /DATE OF PRONOUNCEMENT : 28.09.2016 / O R D E R / O R D E R / O R D E R / O R D E R PER SANJAY GARG JUDICIAL MEMBER : PRESENT APPEAL BY THE REVENUE IS AGAINST THE ORD ER OF LD.CIT(A)- 40 MUMBAI DATED 13.5.2014 FOR THE ASSESSMENT YEAR 2011-12. ITA NO.5209/MUM/2014 2 2. THE SOLE ISSUE RAISED IN THIS APPEAL IS AS TO WH ETHER THE LEASE/RENTAL INCOME RECEIVED BY THE ASSESSEE IS TO BE TREATED AS INCOME FROM HOUSE PROPERTY OR BUSINESS INCOME. 3. THE BRIEF FACTS OF THE CASE ARE THAT ASSESSEE I S ENGAGED IN REAL ESTATE BUSINESS AND IT HAD DEVELOPED 'LEELA BUSINES S PARK' AT ANDHERI- KURLA ROAD ANDHERI(E). MUMBAI. HOWEVER DURING THE PERIOD THE PROPERTIES COULD NOT BE SOLD THE ASSESSEE EARNED RENTAL INCOME OF RS.28 65 16 21 0/- FROM THE ABOVE PROPERTY UNDER T HE HEAD INCOME FROM HOUSE PROPERTY. HOWEVER THE AO TREATED THE SAI D INCOME AS BUSINESS INCOME OF THE ASSESSEE. THE LD. CIT(A) ALLOWED TH E APPEAL OF THE ASSESSEE AND HELD THAT THE RENTAL INCOME RECEIVED BY THE ASSESSEE HAS TO BE ASSESSED UNDER THE HEAD INCOME FROM HOUSE PRO PERTY. 4. AT THE OUTSET THE LD. AR SUBMITTED THAT THIS IS SUE HAS ALREADY BEEN CONSIDERED BY THE TRIBUNAL AND DECIDED AGAINST THE REVENUE IN REVENUES APPEALS IN ITA NO.7453/MUM/2012 (AY-2004-05) ALON G WITH OTHER SIX APPEALS FROM ASSESSMENT YEARS 2005-06 TO 2010-11) V IDE ORDER DATED 6.4.2010 BY HOLDING THAT THE INCOME SO EARNED BY T HE ASSESSEE HAS TO BE TREATED AS INCOME FROM HOUSE PROPERTY. BOTH THE REPRESENTATIVES OF THE PARTIES HAVE FAIRLY AGREED THAT THE FACTS FOR THE YEAR UNDER CONSIDERATION ARE IDENTICAL TO THAT OF EARLIER YEARS. HENCE IN THE LIGHT OF THE DECISION OF CO-ORDINATE BENCH OF THE TRIBUNAL IN THE EARLIER Y EARS IN THE OWN CASE OF THE ASSESSEE WHEREIN IT HAS BEEN HELD THAT THE INC OME EARNED BY THE ASSESSEE FROM LETTING OF THE PROPERTIES IS TO BE TR EATED AS INCOME FROM ITA NO.5209/MUM/2014 3 HOUSE PROPERTY. WE DO NOT FIND ANY INFIRMITY IN THE ORDER OF THE LD.CIT(A) AND THE SAME IS UPHELD. 5. IN THE RESULT THE APPEAL FILED BY THE REVENUE I S DISMISSED. THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 28 TH SEPT 2016 . 28 SEPT 2016 SD/ SD/ SD/ SD/- -- - SD/ SD/ SD/ SD/- -- - ( (( (ASHWANI TANEJA ASHWANI TANEJA ASHWANI TANEJA ASHWANI TANEJA) ) ) ) ( (( (SANJAY GARG SANJAY GARG SANJAY GARG SANJAY GARG) ) ) ) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI: 28 SEPT 2016 .../ SRL SR. PS / COPY OF THE ORDER FORWARDED TO COPY OF THE ORDER FORWARDED TO COPY OF THE ORDER FORWARDED TO COPY OF THE ORDER FORWARDED TO : :: : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. () / THE CIT(A)- CONCERNED 4. / CIT CONCERNED 5. ! / DR ITAT MUMBAI CONCERNED 6. '# / GUARD FILE. / // / BY ORDER (ASSTT. REGISTRAR) /ITAT MUMBAI