TMI Blog2017 (12) TMI 852X X X X Extracts X X X X X X X X Extracts X X X X ..... se Property’’. In the circumstances, we are of the opinion that lower authorities were justified in considering the rental income under the head ‘’Income from House Property’’. Once income is assessed under the head "Income from House Property", assessee will be eligible only for allowance mentioned in Section 24 of the Act. We thus do not find any reason to interfere with the orders of the lower authorities. - Decided against assessee. - I.T.A. Nos.2372, 2373, 2374, 2375, 2376, 2377 And 2378/ Mds/2016 - - - Dated:- 11-10-2017 - SHRI ABRAHAM P.GEORGE, ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, JUDICIAL MEMBER For The Appellant : Shri. D. Anand, Advocate For The Respondent : Shri. M. Palanichamy, IRS, JCIT. ORDER PE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the claim of lease rental paid on the land. 4. Ld. Counsel for the assessee submitted that assessee had for assessment year 2005-06 shown the income from rental under the head Income from Business/Profession . However, according to him, for assessment years 2008-09, 2009-10 and 2010-2011, assessee had shown such rental income under the head Income from Other Sources . Ld. Counsel fairly admitted that assessee had itself shown the very same income under the head income from House Property for assessment years 2006-07, 2007-08 and 2011-12. However, as per the ld. Authorised Representative, the ld. Assessing Officer had considered the rental income under the head Income from House Property for all the years. As per the ld. Au ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the assessee and hence the rental from the building situated in such land could be considered only under the head Income from Other Sources and not from the head income from House Property . As per the ld. Authorised Representative if the rentals were considered under the head Income from Other Sources assessee will be eligible to set off the lease rental paid for the land as expenditure laid out wholly and exclusively for the purpose of earning the rental income from the building. Thus, as per the ld. Authorised Representative necessary directions had to be given to the authorities below for correctly assessing the rental income under the head Income from Other Sources and not as Income from House Property . 5. Per co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as not been disputed by the assessee that the House Property located at No.9, Chandrappa Mudali Street Sowcarpet, Chennai 600 079, on which it was earning the rental income was constructed by it, though it was situated in a leased land. Ownership of the building therefore vested with the assessee. May be assessee was not sure under which head of income, the rentals had to be shown. However, income earned by the assessee by exploiting the property by letting it out de hors, any commercial or business activity is chargeable under the head Income from House Property as held by Jurisdictional High Court in the case of Keyaram Hotels P. Ltd (supra). Argument of the ld. Authorised Representative is that, assessee could not be considered as ow ..... X X X X Extracts X X X X X X X X Extracts X X X X
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