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2020 (2) TMI 568 - AT - Income TaxCharacterisation of income - income of the assessee under the head “income from other sources” or “business income” - Revenue sharing from operation of multiplex - HELD THAT:- The light of authoritative pronouncements of Hon’ble Gujarat High Court as well as Hon’ble Supreme Court in the case of Excel Industries [2013 (10) TMI 324 - SUPREME COURT] find that there is no justifiable reason for the AO to deviate from view taken in earlier years, in this year. Neither the AO nor the ld.CIT(A) has pointed out what are the changes in the facts and circumstances from the earlier years. Even otherwise, if looked from angle of Revenue sharing from operation of multiplex as well as other liabilities of the assessee, it would demonstrate that it was a business exploitation by the assessee, and it has only given a portion of the complex for a period of ten years to PVR. Therefore, its income ought to be assessed under the head business income. Allow the appeal of the assessee and set aside the finding of both the Revenue authorities. The ld.AO shall assess the income of the assessee under the head “business income”. - Appeal of the assessee is allowed.
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