TMI Blog2012 (2) TMI 603X X X X Extracts X X X X X X X X Extracts X X X X ..... ived from letting/renting of shops/offices in the commercial complex as well as from letting/renting of space on roof and space on walls for advertisement as business income instead of Income from House Property. 3. Identical issue was involved for assessment year 2006-07 i.e. immediately preceding year. In that year also the claim of the assessee that the income from letting/renting of various shops/space was shown as Income from house property but was not accepted by both the lower authorities. On second appeal before the Tribunal, this issue was decided in favour of the assessee. Therefore, without going into detail further, following the order of immediately preceding year in case of both the assessees, we allow these grounds in f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from business. 9. Section 22 has application to property consisting of any buildings or lands appurtenant thereto. If the constituent building etc. are not occupied by the owner then for the purpose of any business carried on by him, the profits of which are chargeable to income-tax. Otherwise the rent charges by assessee on the property rented by assessee are chargeable under the head Income from house property. In case of PVG Raju, 66 ITR 122 (AP), the Hon ble Andhra Pradesh High Court has held that letting out the building such as shops, godown etc. is assessable under this section as Income from house property. 10. In case of East India Housing and Land Development Trust, 42 ITR 49 (SC), the Hon ble Supreme Court has held that eve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the same land, and we have already allowed the issue in favour of the assessee while disposing the appeal in case of M/s. Vibhuti Financial Services Pvt. Ltd. Therefore, on the same basis, we allow the ground in favour of the assessee and direct the AO to treat the income as income from house property against business income as held by AO. The AO is directed to allow statutory deduction under section 24(a) of the Act as per provisions of law. Since facts are identical for the year under consideration also, therefore, following the order of Tribunal as stated above, we allow the claim of the assessee. 4. Ground No. 1 in both the appeals is not pressed, therefore, the same is dismissed as not pressed. 5. Remaining issue is in respec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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