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2010 (4) TMI 712 - AT - Income TaxIncome from house property or Other sources - lease rentals towards the amenities and furniture and fixtures - While leasing out the building the assessee entered into two agreements with the tenant, one towards the rent of the building, and the other towards the amounts for providing the amenities for the same building - CIT(A) directed the assessing officer to split and treat the hire charges into two, as one is ‘income from house property’ and the other ‘income from other sources - Held that: - We have to see the intention of the assessee whether the letting was the doing of a business or to exploitation of his property by an owner. The assessee when exploited the property to derive rental income it has to be held that the income realized by him by way of rental income from a building if the property with other asset attached to the building to be assessed as ‘income from house property’ only. - the entire income is to be assessed as income from house property - order of CIT(A) reversed - decided in favour of revenue. Computation of sales consideration u/s 48 - sale value - AO considering the value of super structure to determine the sale value and compute the capital gain - CIT(A) directed AO to consider the sales consideration as per value of the land adopted by the Registrar for Stamp Duty purpose on the date of registration of the development agreement - Held that: - the consideration for the transfer of capital asset is what the transferer receives in lieu of the assets – order of CIT(A) reversed - Decided in favour of revenue.
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