TMI Blog2012 (8) TMI 1045X X X X Extracts X X X X X X X X Extracts X X X X ..... appreciating the fact that the said income had consistently being assessed as Business Income in the previous assessment years which include assessment for immediate previous year relevant to assessment year 2007-08 where the assessment was completed u/sec. 143(3) of the Act. 2. That the Hon'ble Commissioner of Income Tax (Appeals) has erred in law as much as on the facts of the case by not following the Rule of Consistency inspite of the fact that during the assessment year under appeal, no material change in nature of income have been taken place. The facts and circumstances of the case are absolutely identical to the facts of earlier years. 3. That Hon'ble Commissioner of Income Tax (Appeals) while upholding the acti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... years as well as subsequent years, the income from rent has been assessed as income from business. That the assessee is commercially exploiting the property by renting hall and rooms to separate persons. The assessee is holding the licence of running the lodge. He, therefore, submitted that when in all the preceding as well as subsequent years the income from rent has been assessed as business income, a contrary view should not have been taken in one year which is under appeal. In support of this contention, he relied upon the decision of Hon'ble Apex Court in the case of Radha Soami Satsang Vs. CIT - 193 ITR 321. 3. The learned DR, on the other hand, relied upon the orders of the authorities below. 4. We have carefully considered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar. 5. The ratio of the above decision of Hon'ble Apex Court would be squarely applicable to the facts of the case under appeal because on identical facts, the rental income has been assessed as business income in all the preceding years. It has also been stated by the learned counsel that even in the subsequent year, the same has been accepted as business income. The assessee's counsel has also placed before us the assessment order of the immediately preceding year i.e. AY 2007-08 wherein, in the order passed under Section 143(3), the Assessing Officer has accepted the income disclosed by the assessee. In view of the above, respectfully following the decision of Hon'ble Apex Court in the case of Radha Soami Satsang (sup ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
