2021 (4) TMI 112

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..... d of Income from business or profession. As the learned CIT(A) has followed the binding precedent in the case of the assessee itself, we do not find any error in the order of the learned CIT(A) on the issue in dispute and accordingly uphold the same. The grounds of the appeals are dismissed.
SHRI O. P. KANT, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER Appellant by : None Respondent by : Shri Rajesh Kumar, Sr.DR ORDER PER O. P. KANT, AM: This appeal is directed against the order dated 31st August, 2017 passed by the learned Commissioner of Income-tax (Appeals)-43, New Delhi [in short "the learned CIT(A)'] for assessment year 2013-14 raising the following grounds: Ground No. 1: The Ld. Commissioner of Income Ta .....

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..... arlier years, upheld the finding of the Assessing Officer. Aggrieved, the assessee is in appeal before the Tribunal raising the grounds as reproduced above. 3. Before us, none represented on behalf of the assessee despite informing the date of the hearing in the open court on 16.03.2021. No adjournment application was also filed, in view of the fact, the case was heard ex-parte qua the assessee after hearing the learned DR. 4. We have heard the learned DR and perused the relevant material on record. In the case, the issue in dispute is regarding the head under which rental income is to be taxed. The assessee is earning rental income from commercial malls and offered the same under the head 'Profit and Gains of Business or Profession'. The .....

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..... holding that the sale consideration disclosed by the assessee on sale of shops should be accepted? (iii) Whether the findings recorded by the Income Tax Appellate Tribunal in respect of the question number (ii) are perverse?" 3. It is common ground that the first substantial question of law is to be answered in the negative, in favour of the Revenue and against the assessee in view of the judgment of this Court in CIT Vs. M/s Ansal Housing Finance and Leasing Co. Ltd. &Ors. decided on 31.10.02012 in ITA 18/1999." 4.2 As the learned CIT(A) has followed the binding precedent in the case of the assessee itself, we do not find any error in the order of the learned CIT(A) on the issue in dispute and accordingly uphold the same. The .....

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