TMI Blog2021 (7) TMI 997X X X X Extracts X X X X X X X X Extracts X X X X ..... C.A.No.210 of 2016 - - - Dated:- 15-7-2021 - Hon'ble Mr. Justice M.Duraiswamy And Hon'ble Mrs.Justice R.Hemalatha For the Appellant : Mr.M.Swaminathan Senior Standing Counsel And Mrs.V.Pushpa Junior Standing Counsel For the Respondent : Mr.Vikram Vijayaraghavan JUDGMENT M.DURAISWAMY, J. Challenging the order passed in I.TA.No.465/Mds/2015 in respect of the Assessment Year 2010-11 on the file of the Income Tax Appellate Tribunal, Chennai, C Bench, the Revenue has filed the above appeal. 2.The only issue in the appeal of the Revenue is that the Income Tax Appellate Tribunal erred in holding that the lease rent income received from letting out modules of Software Technology park to various lessees would ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #39;income from business'? 3.When the appeal is taken up for hearing, Mr.M.Swaminathan, learned Senior Standing Counsel for the appellant/Revenue fairly submitted that the issue involved in the above appeal has already been decided by the Hon'ble Division Bench of this Court, by its Judgment dated 07.07.2020 in T.C.A. No.732 733 of 2018, wherein the Hon'ble Division Bench held as follows:- 8.So far as Substantial Question of Law No.1 is concerned, it has to be seen as to whether the income derived from letting out of the property in an industrial park/SEZ including the amenities and the income received by the owners for such property and the amenities therein would be business income in the hands of the owner of the pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m other sources. 11.After referring to the decision in the case of CIT Vs. Chennai Properties and Investments Limited, reported in (2005) 274 ITR 117, it was pointed out that income derived from letting out of the property with all amenities and facilities would be income from business and cannot be assessed either as income from house property or as income from other sources. The said decision of the Hon'ble Division Bench was appealed against by the revenue before the Hon'ble Supreme Court in SLP No.11638 of 2013 and we are informed that the appeal was dismissed on 27.01.2020 on the ground of Low Tax Effect. 12.Considering all those facts as wells as the circular issued by CBDT, substantial question of law No.1, has to be a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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