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2016 (6) TMI 427 - AT - Income TaxClassification of rental income received by the assessee from the commercial complex - income from business v/s income from house property - Held that:- Since the assessee itself claims 75% of rental income has to be classified as income from house property, the CIT(Appeals) has rightly found that 75% of the rental income for assessment year 2003-04 as income from house property. Therefore, this Tribunal is of the considered opinion that the CIT(Appeals) has rightly found that 75% of the rental income has to be assessed as income from house property and the balance 25% as income from business. By respectfully following the law laid down by the Apex Court in Chennai Properties and Investments Ltd. (2015 (5) TMI 46 - SUPREME COURT), we hold that the rental income has to be bifurcated and 75% of the same has to be classified as income from house property and 25% has to be classified as income from business.
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