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2017 (7) TMI 1000 - AT - Income TaxLease rental raising from exploitation of commercial property - income from house property instead of business income - search and seizure operation u/s 132 - Held that:- Since the facts in the years under consideration are identical to the facts involved in the assessment year i.e. 2012-13 which has been decided by the ld CIT(A) in assessee’s favour by following the judgment of the Hon'ble Supreme Court in case of M/s. Chennai Property and Investment Ltd. Vs CIT (2015 (5) TMI 46 - SUPREME COURT ). In the present case the assessee stated that department had not preferred any appeal against the order dated 29.01.2016 passed by the ld CIT(A) for the subsequent assessment year i.e. Assessment Year 2012-13, the said averment needs verification. We therefore deem it appropriate to set aside this issue back to the file of AO for verification of the facts and if the department accepted the rental income as business income in subsequent year 2012-13 then for the assessment years under consideration also, the same stand to be taken. Appeals of the assessee allowed for statistical purposes.
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