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2017 (12) TMI 789 - AT - Income TaxAddition on account of lease rental income - whether the assessee is the legal owner of the property in line with section 60? - addition on protective basis - nature of income - business income or house property - arrangement of transferring of shops and retail space by AHRPL to ADIPL - Held that:- When we peruse the recitals of the Agreement (supra) reproduced above particularly clause 4, it goes to unequivocally prove that the second party to the Agreement (supra), namely, ADIPL is entitled to receive the rent or the charges from the tenants/occupants during the currency of this agreement. When ADIPL has got rights and interest in the property in question by virtue of the Agreement (supra) w.e.f. 31.03.2008 then it is estopped by its own act and conduct from showing the income from the rental of the shops and rental space in its hands for the earlier period prior to 31.03.2008. In the given circumstances, the ld. CIT (A) has rightly upheld the addition in the hands of AHRPL under the head income from house property When substantive addition qua the same amount of ₹ 6,27,84,240/- has already been made in case of AHRPL, there is no question confirming the protective addition of ₹ 6,27,84,240/- in case of ADIPL by the ld. CIT (A) because one income cannot be taxed twice.- Decided against revenue
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