TMI Blog2012 (2) TMI 616X X X X Extracts X X X X X X X X Extracts X X X X ..... ered as rental income or income from house property. Held that:- Both in the case of earlier Assessment Years as well as in subsequent Assessment Years i.e. AY 1998-99 and 2000-01, such income had been assessed as business income. Counsel appearing on behalf of the assessee states that it is only in the case of AYs 1997-98, 2001-02 and 2005-06 that the Revenue sought to take a different positio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ified in ignoring the decision of the apex Court in the case of Shambu Investments (P) Ltd Vs. CIT (2003) 263 ITR 143 wherein it was held that where the main intention is letting out property or any portion thereof the same may be considered as rental income or income from house property. 2. The appeal arises out of a decision of the ITAT for AY 2005-06. The Tribunal noted the statement of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s income. Counsel appearing on behalf of the assessee states that it is only in the case of AYs 1997-98, 2001-02 and 2005-06 that the Revenue sought to take a different position. Of these three years, the appeals relating to the first two years AY 1997-98, 2001-02 have been dismissed and the matter has attained finality. In that view of the matter, the view which has been taken by the Tribunal can ..... X X X X Extracts X X X X X X X X Extracts X X X X
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