TMI Blog2014 (6) TMI 612X X X X Extracts X X X X X X X X Extracts X X X X ..... o the fact that the grievance raised before the Tribunal as also the CIT was considered in the case of the very Assessee - the receipt of the charges for use of office equipments have been rightly termed as business income - the rule of consistency has not been blindly applied by the Tribunal - once the Department has assessed the income for the preceding year as business income, then without anyt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that this appeal raises substantial questions of law. He submits that the Tribunal has failed to take into consideration the decision of the Supreme Court in the case of Shambhu Investment P.Ltd. v/s Commissioner of Income Tax, reported in 2003(263) ITR 143. He submits that the Calcutta High Court in the case which was brought to the Supreme Court held that the income from the property was assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmercial activity in the nature of business. 4. We are unable to accept any of these contentions. The concurrent finding of the Commissioner and the Tribunal is that so far the house property is concerned, the income derived therefrom has to be treated as income from property. In so far as the office equipments, computers, furniture / fixtures and motor car are concerned, the Tribunal as also t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... troversy. The Assessee had accepted the finding on the income derived by way of rent on account of letting out immovable property. The receipt of the charges for use of office equipments have been rightly termed in this case as business income. We are not therefore impressed by the argument of Mr Chhotaray that the Supreme Court judgment in the case of Shambhu Investment P. Ltd. has been in anyway ..... X X X X Extracts X X X X X X X X Extracts X X X X
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