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2014 (5) TMI 1028 - AT - Income TaxDisallowance of depreciation - Lease rental income - Income from house property - Held that:- Since both parties have accepted that the assessee herein has leased out only building during the years relevant to the assessment years 2007-08 and 2009-10, the rental income is assessable under the head "Income from house property" only. Hence, we do not find any infirmity in the decision of the learned Commissioner of Income-tax (Appeals) in confirming the assessment of rental income under the head "Income from house property" - Admittedly, the assessee is submitting certain facts which were not considered by the Assessing Officer. According to the learned authorised representative the assessee has leased out building and plant and machinery during the year relevant to the assessment year 2004-05. However, the assessment order is silent about the receipt of rental income. It is seen that the Assessing Officer has disallowed the depreciation only for the reason that the assessee did not carry on any manufacturing activity and hence the assets were not put to use. If the assessee has let out the building and plant and machinery together, then the decision rendered by this Bench of the Tribunal in the assessee's own case for the assessment year 2005-06 is applicable to this year. However, as stated earlier, the Assessing Officer has not examined these aspects. - Matter remanded back - Decided partly in favour of assessee.
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