9911796707
TMI Blog2017 (7) TMI 739X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER PER COURT 1] The present appeal pertains to Assessment Year 2007-08. 2] The present appeal is filed on following substantial questions of law; "A. Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in directing the Assessing Officer to assess income from hoarding charges, compensation, lease rent, parking charges and a transaction of sale of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , as it was solitary transaction. The solitary entry of sale and purchase of silver is nothing but camouflage and further the sale is to sister concern. The learned counsel submits that the long term lease is given to various parties for erecting towers. The same is for a period of three to fifteen years. As such, it has to be held to be house rent. It has not been shown by the Assessee that the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion. The attending circumstances are writ large to come to the conclusion that the sale of a flat along with construction permission of the project is a business income. 5] We have heard the learned counsel for the Respondent also. 6] As far as the flat is concerned, the same is acquired in the year 1941 and was held as such since then. It appears that in the year 1984-85, construction permissi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... being shown as business income and the Assessee for all the previous years has accepted the same as business income. There was no reason to deviate for the present year. The evidence in this regard has also been discussed by the Tribunal. Even in respect of trade in bullion, the Assessing Officer for all the previous year has accepted that the Assessee is engaged in business of trading in bullion. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
