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2015 (9) TMI 1347 - AT - Income TaxManagement fee (Royalty) received - Income from house property v/s business income - Held that:- As decided in assessment years 2007-08 and 2008-09 we allow the claim of the assessee that the Management fee (Royalty) received from Kamat Hotels (I) Ltd. is liable to be assessed as ‘business income’. - Decided in favour of the assessee Disallowance applying section 14A - Held that:- In view of the above precedent, the matter was put to the parties in the course of the hearing. The rival Counsels fairly agreed that the matter relating to the computation of disallowance under section 14A of the Act be restored back to the file of the Assessing Officer for a decision afresh in the light of the directions of the Tribunal in the assessee’s own case for earlier assessment years and as per law. Needless to mention, the Assessing Officer shall rework the disallowance u/s. 14A of the Act, if any, after allowing the assessee an opportunity of being heard. - Decided in favour of assessee for statistical purposes.
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