9911796707
TMI Blog2019 (2) TMI 283X X X X Extracts X X X X X X X X Extracts X X X X ..... of this common order for the sake of convenience. 2. The grounds raised by the assessee for the AY. 2013-14 are as under: "The appellant prefers the following Appeal against the order dated 28/02/2018 of the Commissioner of income Tax (Appeals)-42, Mumbai, (hereinafter referred to as "The GT (A)"} passed under section 250(6) of the income Tax Act, 1961 ("The Act"). Each of the grounds is in alternative and without prejudice to other. 1.0: On facts and in law and in the circumstances of the case. Hon'ble CIT (A) erred in confirming the disallowance of deduction of Rs. 641,749 (correct amount - Rs. 652,712) u/s 24(a) of the Income Tax Act, 1961 by disregarding the fact that rental income received by a co-operative society for letti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the appellant u/s 24(a) of the Income Tax Act, 1961 by disregarding the fact that rental income received by a cooperative society for letting out the building terrace and permitting erection and installing of cell phone towers thereon in the building owned by the society is properly assessable only under the heading 'Income from House Property and as such statutory deduction under section 24(a) is legitimately permissible, 1.1: On facts and in law, Hon'ble CIT (A) failed to appreciate that the assesses society being owner of the building, rental income received by the assessee - society for letting out the building terrace and permitting erection and installing of cell phone towers thereon in the building cannot be assessed as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case are that the assessee is a Cooperative housing society, filed return declaring an income of Rs. 6,53,990/-. During the course of assessment it was interalia observed by the Assessing Officer that the assessee has shown an amount of Rs. 5.50 lacs as rent received from Reliance Telecom and after deducting an amount of Rs. 1.65 lacs being deduction u/s.24(a) of the Income tax Act, 1961(the Act) @ 30% from the above amount, the assessee has shown an amount of Rs. 3,85,000/- as income from house property. On being asked it was submitted by the assessee that since the above amount represented rent received for allowing Reliance Telecom to use portion of the terrace, the same was rent received from letting out property, and hence, the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal. In the case of Sharda Chamber Premises vs. ITO in ITA No.1234/M/08 dated 1.9.2009 for Assessment Year 2003-04 in which JM was one of the party, on the similar facts, the Tribunal after considering the decision in ITO vs. Cuffe Parade Sainara Premises Co-operative Society Ltd. 7225/Mum/05 dated 28th April, 2008 for Assessment Year 2002-03 and also the decision in the case of S. Sohan vs. ITO (1986) 16 ITD 272 supra has held vide Para 6 and 7 of its order dated 1.9.2009 as under : "6. We have carefully considered the submissions of the rival parties and perused the material available on record. We find merit in the plea of the ld. Counsel for the assessee that in the case of M/s. Dalamal House Commercial Complex-Premises Co-opera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and in that case also, the assessee claimed a deduction u/s. 24 (a) of Rs. 1.65 Lakhs being 30% of such rental amount of Rs. 5.50 Lakhs. AO disallowed the same by holding that if income is liable to be taxed as income from other sources and not under the head Income from House Property. He made disallowance of the claim for deduction u/s. 24 (a) of the Act. Aggrieved, assessee carried the matter in appeal before the CIT(A). He did not succeed and assessee again carried the matter before the Tribunal. The Tribunal at Para 6 of its order as reproduced above, followed another order of the Tribunal rendered in the case of Sharda Chambers Premises Co. Op. Society Ltd., Vs. ITO in ITA No. 1234/Mum/2008, dt. 01-09-2009 and decided the issue in fav ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
