9911796707
TMI Blog2012 (8) TMI 327X X X X Extracts X X X X X X X X Extracts X X X X ..... dly. The delay is condoned and the appeal is admitted for hearing. 2. The first ground is against confirmation of income from license fees at Rs.18,97,248/- instead of Rs.4,74,312/-. The second ground, which is related to ground no. 1, is against confirmation by the ld. CIT(A) of the action of the AO in assessing such income under the head 'Income from other sources' instead of business income shown by the assessee. 3. Briefly stated, the facts of these grounds are that the assessee received a sum of Rs.4.74 lakhs as license fees from Mid-day Multimedia Publications Pvt. Ltd. in respect of some premises which was sub-licensed along certain amenities. This premises was taken on license by the assessee along with M/s.Mangala International P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... considered as business income. In the absence of any distinguishing features in the facts of the present assessee and the other licensor in the same property, respectfully following the precedent, we direct to tax the license fees for the entire year at Rs.18.97 lakhs as business income. 5. Ground no. 3 is against the confirmation of disallowance of 75% of expenses amounting to Rs.52,099/-. Having heard the rival submissions and perused the relevant material on record, we find that the Tribunal in the aforenoted case of M/s Mangala International Pvt. Ltd. has restored similar matter to the file of AO for taking a fresh decision on such expenses. Respectfully following the precedent, we set aside the impugned order on this issue and remit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce. The ld. CIT(A) upheld the assessment order on this issue. 9. After considering the rival submissions and perusing the relevant material on record, it is observed that the assessee tried to file a copy of the Occupation Certificate received from Municipal Corporation on 30-03-2008 before the ld. CIT(A). The ld. AR contended that the assessee was allowed possession of the premises much after the close of the financial year. Since this Certificate from Municipal Corporation came into existence after the passing of the assessment order and it has some bearing on the question of determination of ALV, in our considered opinion, it will be just and fair if the impugned order on this issue is set aside and the matter is restored to the file o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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