TMI Blog2013 (12) TMI 591X X X X Extracts X X X X X X X X Extracts X X X X ..... d 58 - Held that:- The assessee did not get opportunity to contend about the deduction of eligible expenses as per the provisions of sec. 57 - The issue remitted back for fresh examination at the end of the AO for the limited purpose of deduction of expenses. - I.T.A. No. 410/Coch/2009 - - - Dated:- 31-1-2013 - Shri N. R. S. Ganesan, JM And B. R. Baskaran, AM,JJ. For the Appellant : Smt. Susan George Varghese, Sr. DR For the Respondent : Shri V.Sathyanarayanan, CA ORDER Per B. R. Baskaran, Accountant Member:- The appeal filed by the revenue is directed against the order dated 26-03-2009 passed by the Ld. CIT(A)-II, Kochi and it relates to the assessment year 2006-07. 2. The only issue urged in this appeal is with rega ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to year and during the year under consideration also, the above agreement was renewed and the lease rent has been increased to 10 crores for the year ending 31.3.2006 as is found in the Director's Report. Consequent upon the agreement with Apollo Tyres Ltd, the assessee has stopped the business of manufacturing and sale of tyres w.e.f. 11.3.1994 and thereafter Apollo Tyres Ltd is manufacturing tyres at its own brand name and marketing the same. The above state of affairs is continuing from 11.3.1994 and during the year under consideration also. Apollo Tyres Ltd is carrying on the business of manufacturing and sale of tyres in the plant using the plant and machinery leased out to it by the assessee company. Though the assessee company has t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the sake of convenience:- "6. We have heard the rival contentions and carefully perused the material on record. There cannot be any dispute that the question whether the assessee is having an intention to revive its business activity is a question of fact and the same is required to be considered every year on the basis of the facts and circumstances prevailing in that year. Accordingly, we are of the view that the decision rendered by the Tribunal in the earlier years cannot have binding effect in subsequent years. The undisputed facts are that the assessee has leased out its plant and machinery in the year 1995. Hence, while considering the claim of the assessee for the years ending 31.3.1996 and 31.3.97, the Tribunal held that there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r sources. 6. During the course of hearing, the Ld A.R submitted that he is aware that the bench would be following its order passed in the hands of the assessee for the assessment year 2007-08. He submitted that the assessing officer has not given deduction all eligible expenses while computing the lease rental income under the head "Income from other sources". Accordingly, he prayed that the matter relating thereto may kindly be set aside to the file of the AO. On the contrary, the Ld D.R submitted that the AO has given deduction towards expenses while computing the income. 7. We notice that the assessee has all along been contesting that the lease rental income is assessable under the head "Income from Business". As stated earlier, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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