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2018 (6) TMI 615

t taken in the order [2014 (12) TMI 1320 - BOMBAY HIGH COURT] there is no substantial question of law - thus not entertained. - Profits from the other units worked out separately and allowed deduction u/s 80IB(10) - Held that:- Not able to show us from the orders passed by the authorities under the Act that any disallowance under Section 80IB of the Act was attributable to the flat being in excess of 1000 sq. ft. This indicates the most casual and reckless manner in which the Revenue files appeals before this Court. - Treatment of rent from amenities - income from other sources - Held that:- It is not even the case of the Revenue that furniture belonging to the respondent has been let out along with building to the lessee bank - thu .....

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income from house property even though the assessee entered into separate agreement and that the character of income from renting of amenities is distinct from that of income for House Property? 3. Regarding Question No.(i) : (a) The impugned order dated 26th March, 2015 of the Tribunal dismissed the Revenue's appeal by following the order of its coordinate bench dated 12th August, 2011 in respect of the same respondent assessee. (b) Mr. Kotangle, learned Counsel appearing for the Revenue very fairly states that being aggrieved by the order of the Tribunal dated 12TH August, 2011 on an issue also raised herein, the Revenue had preferred an appeal before this Court being Income Tax Appeal No.172 of 2013. The appeal of the Revenue was di .....

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venue files appeals before this Court. (d) Thus, the question of law as proposed does not arise from the impugned order of the Tribunal. Accordingly, no question of entertaining this question arises. 5. Regarding question no. (iii) : (a) During the course of the assessment proceedings, the respondent assessee has offered an amount of ₹ 11.87 lakhs to tax under the head income from house property. This was on the basis of two lease agreements with UCO Bank, one for lease rent amounting to ₹ 54,290/per month and another for amenities at ₹ 26,474/per month. The Assessing Officer held that the income offered under agreement for lease of amenities for ₹ 26,474/per month could not be classified under income from house prop .....

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Act. Therefore, he submits that this question requires admission. (e) We note as observed by the CIT(A) as well as the Tribunal that it would be obvious from the reading of Section 56(2)(iii) of the Act that the aforesaid provision would apply only where letting of the machinery, plant or furniture is inseparable from letting of buildings and in such a case, the income would be classified as income from other sources and not be chargeable to tax under the head profits and gains. In this case, it is not even the case of the Revenue that furniture belonging to the respondent has been let out along with building to the lessee bank. In these circumstances, on the aforesaid factual findings, there is no occasion to Section 56(2)(iii) of the Act .....

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