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2014 (1) TMI 908 - AT - Income TaxNature of Income - Whether income from letting out should be considered as house property income or business income – Held that:- There is no strait jacket formula prescribed for categorizing income under one head or other - When the facts of the appeals in the batch have already been considered and decided by the Tribunal in its earlier order - the rental income should considered as `Income from house property' and not as `Business income' and further no deduction for depreciation allowance or other administrative expenses should be allowed. Condonation of delay in filing cross objection – No addition to be made u/s 153A r.w. Section 143(3) of the Act – Held that:- The cross objections were filed by the assessee on 16.08.2011 challenging the jurisdiction of the Assessing Officer to pass order u/s 153A read with section 143(3) when no incriminating materials were found during the course search - it cannot be accepted as a reasonable cause for the delay because the Special Bench order was passed on 6th July, 2012 as against the date of filing of the instant cross objections of 16.08.2011 - the benefit of such Special Bench order can be available only after the date of its passing and not before that - the justification for the delay of around four years in presenting the cross objections cannot be accepted - the delay is not condoned and the cross objections are accordingly dismissed – Decided in favour of Revenue and against Assessee.
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