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TMI Blog2018 (12) TMI 705X X X X Extracts X X X X X X X X Extracts X X X X ..... commercial premises. The object of the business of the respondent firm is not restricted to only ready-made garments. Therefore, once it is accepted that the giving commercial premises on rent/lease is also a business activity of the respondent then the decision of the Supreme Court in case of Chennai Properties and Investment Ltd.[2015 (5) TMI 46 - SUPREME COURT] and in Shreeji Exhibitors would [ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cumstances of the case and in law the Hon'ble ITAT was justified in holding that the Assessee had exploited its property commercially by way of complex commercial activities and hence, the rental income received by the Assessee to be taxable as income from business and not under the head Income from House Property ? 3. The respondent-assessee is a partnership firm engaged in the business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 26th December, 2012 the respondent filed a further appeal. The Tribunal by the impugned common order dated 14th August, 2015 in respect of Shreeji Exhibitors and the respondent herein allowed both the appeals. This after recording the facts in respect of Shreeji Exhibitors. Thereafter, on the above facts it held that Chennai Properties Investment Limited Vs. CIT (2015) 373 ITR 673(SC) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he respondent is not only engaged in carrying out activity of letting out business premises, but is also engaged in purchase and sale of ready-made garments. Thus, according to him, the decision of Chennai Properties(supra) would not apply to the facts of the present case. 8. We note that it is an undisputed position that the respondent is involved in the business of purchase and sale of re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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