TMI Blog2015 (8) TMI 1466X X X X Extracts X X X X X X X X Extracts X X X X ..... ome received by the assessee companies from running of Malls in the form of rent and service charges as their business income and upholding the same on this issue, we dismiss these appeals filed by the Revenue. - decided in favour of assessee. - I.T.A. No.5696/Mum/2013 - - - Dated:- 7-8-2015 - S/SHRI A.D.JAIN (JM) AND RAJENDRA (AM) For the Appellant : Shri S S Rana For the Respondent : Shri Rajesh Chamarial ORDER PER A D JAIN (JM) This is department s appeal for assessment year 20010-11, taking the following grounds: 1. On the facts and circumstances of the case, the CIT(A) erred in not upholding the action taken by the AO in treating the rental income from Operating Family Entertainment Centre cum Mall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee company should have shown the income of ₹ 13,73,54,169/- and maintenance charges of ₹ 4,41,27,855/-, inter alia, the operating income of ₹ 13,73,54,169/- had been sub-divided into income from commercial complex of ₹ 12,39,97,853/-, parking income of ₹ 26,18,880/- and advertisement and sponsorship income of ₹ 1,07,37,436/-. These receipts had been taken by the assessee as its income from business. The AO, however, held that the income earned by the assessee was from letting out of the property and ought to have taxed as income from house property. Accordingly, the rental receipt was brought to tax as the assessee s income from house property. 3. By virtue of the impugned order, following the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as income from other sources. In AY 2009-10, in appeal order dated 9.11.2012 in appeal No. CIT (A)-16/ACIT- (OSD)-8(1)/IT.171/2011-12, it was held that ..... income shown in Schedule 'O' as 'Other Income' includes interest received, apart from Miscellaneous income, and the latter includes primarily helmet income, media barrier deal, promotion cash income, atrium corporate deal, lost and found, leasing DC set income etc., and the latter have been directed to be treated as business income in the earlier years' appellate orders. Since the facts and circumstances remain the same in the present year under appeal, viz., AY 2009- 10, following the order of my predecessor CIT(A)s in A Ys.2007-08 and 2008-09, the Assessing O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... business income. In our opinion, the facts of the present case as borne out from the record clearly shows that the cases of the assessees fall under the latter category as the intention of the assessees clearly was to exploit the commercial property by way of complex commercial activities and it was not a case of letting out the property owned by the assessee companies simpliciter. The rental income was not received by the assessee companies merely because of the ownership of the property but the same was received because of the complex commercial activity carried on by them of operating and running Malls which brought that rental income. The rental income and service charges thus were received by the assessee company as business income dur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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