2013 (5) TMI 632

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..... URT] subsequently, been followed in CIT v. Discovery Estates Pvt. Ltd [2013 (3) TMI 124 - DELHI HIGH COURT] wherein held that the rental income should not be assessed under the head “income from business” but under the head “income from house property”. - ITA 238/2013, ITA 239/2013, ITA 240/2013 - - - Dated:- 17-5-2013 - Badar Durrez Ahmed And Vibhu Bakhru,JJ. For the Appellant : Mr. An .....

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..... ats which are shown as stock-in-trade in the books of the appellant/assessee would fall within the head Profits and gains from business and profession or under the head, income from house property . 4. The Tribunal held that it would fall under the head of profits and gains from business and profession , whereas it is the appellant/assessee s contention that it would fall within the head in .....

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..... Housing Finance Leasing Co. Ltd (supra). 5. Mr Maratha appearing on behalf of the revenue contended that Ansal Housing Finance Leasing Co. Ltd (supra) was a decision where the question was with regard to deemed rent on the basis of annual letting value (ALV) whereas in the present appeals, the issue is with regard to the actual rent received in respect of flats let out by the appellant/asses .....

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