2014 (7) TMI 862

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..... for its business purpose and had earned business conducting charges under the head ‘income from house property’ the nature of the said income does not cease to be business activity - income earned may be assessable to tax under the head ‘property income’ but the fact remains that the assessee was engaged in a business activity – assessee contended that claim of deduction towards depreciation as we .....

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..... nditure claimed in the Profit Loss A/c and 50% of depreciation on property. While doing so, the ld. CIT(A) ignored the fact that the Assessee did not carry out any business activity during the year. 2. On the facts and in the circumstances of the case and in law, the ld. CIT(A) erred in deciding the issue on its own decision for assessment year 2002-03, which is not accepted by the Revenue an .....

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..... overt to the aforementioned factual position mentioned by the ld. Authorized Representative. 3. In this view of the situation, having heard both the parties, we dismiss the departmental appeal respectfully following the aforementioned order of the co-ordinate Bench in the case of the assessee itself. The relevant observation of the Tribunal while confirming the order of the ld. CIT(A) are repro .....

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..... of the Order of the ld. CIT(A) it was contented by the assessee that the claim of deduction towards depreciation as well as expenditure is directly linked to the earning of income under the head business . No evidence whatsoever was furnished by the ld. DR to controvert the findings of the ld. CIT(A). 12. It is equally relevant to notice here that when an appeal is listed for hearing before t .....

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..... number of cases. This, coupled with the fact that even before us though an appeal is filed formally in 2009 even till the year 2011 no material could be furnished to enable the Tribunal to understand the contention of the Revenue in its proper perspective, compels us to dispose of the appeal o the basis of material available on record. 13. Having regard to the circumstances of the case, we do .....

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