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2014 (5) TMI 385 - AT - Income TaxAdmission of additional evidence under Rule 46A of the Rules - Treatment of income receivable – Income from letting out of property - Whether the lease rental income received by the assessee is to be assessed under the head “Business” or under the head “Income from Other Sources – Held that:- There is no merit in the Revenue contention as the action of the AO in excluding income from business and assessing the same under the head “Other Sources” is not proper – the order of the CIT(A) is upheld that income has to be considered as business income - whether the income was treated as business income or income from other sources there is no effect on computation of income - Unless the income is taken under the head “Income from House Property ” working of income does not vary whether income is considered under the head “Business” or “Other Sources” - CIT(A) did not admit any of the additional evidence as contended by the revenue – Decided against Revenue.
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