TMI Blog2020 (3) TMI 880X X X X Extracts X X X X X X X X Extracts X X X X ..... adu Toursim Development Corporation Ltd., Vs. Deputy Commissioner of Income Tax reported in [ 2014 (9) TMI 431 - MADRAS HIGH COURT] . Hence, in view of the above, the appeals are liable to be dismissed. The questions of law framed are answered against the appellant. - T.C.A.Nos.118 & 119 of 2020 And C.M.P.No.4150 of 2020 - - - Dated:- 21-2-2020 - Mr. Justice N. Kirubakaran And Mr. Justice P. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 147 and notice under Section 148 dated 31.03.2014 was issued on 02.04.2014. Thereafter, notice under Section 143 (2) dated 19.05.2014 was issued incorporating the reasons recorded for reopening the assessment. 3.After considering the objections made vide letter dated 05.06.2014, the assessment was completed under Section 143 (3) read with Section 147 of the Act on 27.03.2015 determining t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deduction claimed by the Appellant under Section 24 on the Franchise fee. 5.Aggrieved by the Order of the Commissioner of Income Tax (Appeals), the assessee preferred an appeal before the Income Tax Appellate Tribunal. The Tribunal vide its common order in I.T.A.Nos.534 535/Mds/2017 for the assessment years 2007-08 and 2012-13 and confirmed the order of the Commissioner of Income Tax (Appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nchise should be assessed as business income and not under the head income from house property without appreciating that the assessee had ceased to carry on hotel business in the impugned properties and had chosen to exploit the same as their owner by leasing out the land and building for long periods? (iii)Whether on the facts and circumstances of the case, the Tribunal was right in law in h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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