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2019 (3) TMI 383 - ITAT MUMBAITreatment to rental income - correct head of income - income from ‘House Property’ OR ‘Business Income’ - AO treated the rental income as ‘income from business’ - HELD THAT:- Considering the various judgments cited by the respective parties, keeping in view the orders by the Coordinate Bench of ITAT in assessee’s own case for AY 2010-11 [2016 (8) TMI 1421 - ITAT MUMBAI] and also the facts of the present case that assessee is in the business of development of real estate projects and letting of property is not the exclusive business of the assessee, therefore while relying upon the judgment of jurisdictional High Court in the case of CIT Vrs. Gundecha Builders [2014 (2) TMI 1350 - ITAT MUMBAI], we are of the view that the rental income earned by the assessee was rightly treated as income under the head ‘House Property’ CIT(A). No new facts have been brought on record before us in order to controvert or rebut the findings so recorded by Ld. CIT(A). Therefore, there are no reasons for us to interfere into or deviate from the findings so recorded by the CIT(A). Hence, we are of the considered view that the findings so recorded by the CIT (A) are judicious and are well reasoned. Resultantly, these ground raised by the revenue stands dismissed.
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