TMI Blog2010 (1) TMI 98X X X X Extracts X X X X X X X X Extracts X X X X ..... has to be assessed only under “Business head” not in “other Sources” and the agreement between the parties indicate that 60 % income should be assessed under “Income from house property”, held that Tribunal had rightly answered this question in favour of assessee. The appeal has dismissed - 784 and 785 of 2009 - - - Dated:- 7-1-2010 - D. V. SHYLENDRA KUMAR and N. ANANDA JJ. M. V. Seshacha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, should he apportioned in the ratio of 60 : 40 in respect of the income assessable under the head "Income from house property" and the income assessable under the head 'Income from business or profession" etc., white the assessing authority was of the view that such income attributable to the premises should be brought to tax under the head "Income from house property" and "Income from other sou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iew taken by this court in one such matter is that the income attributable to the facilities should be taken at 15 per cent. and the balance 85 per cent. should be taken as income under the head "House property" the Tribunal has varied the percentage of apportionment and therefore the order is bad in law. 6. Learned senior standing counsel for the Revenue places reliance on the decision of thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the head "Income from house property" or under the head "Other sources" or even under the head "Business income" is a question depending on the facts and circumstances of each case and, in our opinion, it does not give rise to question of law of substantial importance. 8. That apart, in the present case, if the Tribunal was of the view that the income assessable under the head "Income fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and when the assessee makes a profit out of it. 10. The Tribunal has rightly answered this question in favour of the assessee and against the Revenue, for the reason that when the assessee is having an income under the head "Income from business or profession", 40 per cent. income even from out of total amount received under the agreement does not get into the head "Other sources" as this ge ..... X X X X Extracts X X X X X X X X Extracts X X X X
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