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2013 (12) TMI 1537 - ITAT CHENNAISub-letting - ‘income from house property’ OR ‘business income’ - Held that:- So far as the findings under challenge of the CIT(A) in principle are concerned, in the absence of any distinction on facts pointed out by the Revenue vis-à-vis facts of assessment year 2007-08 , we see no reason to adopt a different approach in the impugned assessment year. At the same time, we find force in the consequential argument of the Revenue that since present is an issue of head of income i.e the Assessing Officer had treated the receipts in question as ‘business income’ and the CIT(A) under the head ‘income from house property’, the Assessing Officer has to examine the case afresh for the purpose of appropriate computation. In our view, this consequential argument deserves to be accepted since at the time of computing the income under the head ‘house property’ the case of the assessee has to be considered for the purpose of deductions u/s 24 of the Act Disallowance u/s 40(a)(ia) for non-deduction of TDS - Held that:- CIT(A) has rightly directed the Assessing Officer to examine the assessee’s claim on the basis of ‘paid’ and ‘payable’ issue as stated hereinabove. So, the relevant grounds of the Revenue are decided in favour of the assessee.
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