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2015 (3) TMI 320 - HC - Income TaxGodown/Ware Houses rents received - business income OR income from house property - Held that:- Findings of fact arrived at by the Tribunal is not in dispute. The decision of Commissioner of Income Tax V. Indian Warehousing Industries Ltd. [2002 (9) TMI 90 - MADRAS High Court] and Chennai properties and Investments Ltd. (2003 (3) TMI 28 - MADRAS High Court) are distinguishable on facts. In those cases, the receipts itself are rental receipts. Whereas, in the present case, the assessee itself had retained the possession and there is no fiduciary relationship of landlord and tenant. The Tribunal, by going into the individual aspects of the business to correctly come to the conclusion that it is a case of warehousing business and, therefore, would fall only under the head 'Business Income'. - Decided in favour of the assessee
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