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2019 (6) TMI 841 - AT - Income TaxCorrect Head of income - lease rental income - Profits & gains of Business or profession u/s 28 OR Income from House Property u/s 22 - HELD THAT:- It is also not in dispute that the assessee company was primarily engaged in the business of real estate. It is also not in dispute that the assessee has been leasing the property in question and collecting rent since 2010-11 which has been assessed under the head ‘income from house property’. It is also not in dispute that the assessee is owner of the property in question and has leased out the property on the basis of rental agreement. It is also not in dispute that in the subsequent year, the rental income of the assessee has been accepted as income from the house property. Following the decision rendered by the coordinate Bench of the Tribunal and also by following the rule of consistency laid down in the case of Radhasoami Satsang vs. CIT [1991 (11) TMI 2 - SUPREME COURT] and Raj Dadarkar & Associates [2017 (5) TMI 586 - SUPREME COURT] , we are of the considered view that rental income earned by the assessee from leasing out the property owned by it is chargeable to Income-tax under the head ‘income from house property’ under section 22 - Decided in favour of the assessee.
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