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2015 (9) TMI 12 - AT - Income TaxDisallowance of the claim u/s 24(a) against the rental income - Held that:- The total receipts are shared by 4 owners of this property as mentioned above in their respective shares indicate in the supplement agreement. It is a fact that other co-owners have also disclosed their share of income in their respective returns. The AO has not verified the other co-owners income as to remaining 50% income from said property. The case relied on by the ld. AR of the assessee support assessee’s claim that the claim of the assessee in past has been accepted as income from house property. There is no reason to change head of income from house property to business income. It is a trite that rule of res judicata does not apply in income-tax proceedings but the principle of consistency has to be followed while delivering justice. Further the AO had not allowed the assessee’s claim of business expenses claimed during the assessment proceedings. He simply observed that the assessee has failed to submit the details of expenditure incurred and depreciation along-with evidence but the assessee has furnished the details before the AO vide letter dated 14-12-2010 which has not been adjudicated by the AO properly. Even the ld. CIT(A) also ignored the assessee’s claim at the appellate stage. Thus in view of the facts and circumstances of the case, the assessee’s income is treated under the head ‘income from house property’ and allow deduction u/s 24(a) of the Act. - Decided in favour of assessee.
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