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Issues involved: Appeal against the order of the ld. CIT(A) confirming the assessee's income as income from house property instead of income from business and profession.
Summary: Issue 1: Classification of Income The sole issue in this appeal was the classification of the assessee's income as income from house property instead of income from business and profession. The ld. CIT(A) confirmed the income as income from house property based on previous Tribunal orders and the facts of the case. The ld. CIT(A) referred to a previous order of the ITAT in the assessee's own case for the assessment year 2001-02, which decided in favor of the Revenue. The issue was found to be covered by the jurisdictional Bench of the ITAT, Chennai, against the appellant. The appeal filed by the appellant was dismissed, upholding the Assessing Officer's treatment of the income from letting out house property. Issue 2: Previous Tribunal Orders The ld. AR of the assessee acknowledged that the issue had been decided against the assessee in previous Tribunal orders for assessment years 2002-03, 2003-04, and 2005-06. The Assessing Officer treated the rental income as income from house property, which was confirmed by the ld. CIT(A) based on the earlier Tribunal orders. The ld. AR argued that the facts in the present year were identical to those in previous years, leading to the confirmation of the ld. CIT(A)'s order. No other points were raised by the assessee, and the appeal was ultimately dismissed by the ITAT Chennai. This summary provides an overview of the judgment, highlighting the key issues, decisions, and arguments presented in the case.
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