9911796707
TMI Blog2021 (5) TMI 965X X X X Extracts X X X X X X X X Extracts X X X X ..... hatever is the income assessed as income from other sources in the assessee s hands out of its books/P L A/c of the corresponding assessment years, shall not be assessed under the head business income as well so as to avoid double addition. It is made clear that it shall be the assessee s risk and responsibility only to file on record all the relevant details proving that the very sums of additions before us have also been assessed under the head income from house property and business income; as the case may be. Un-explained cash credits u/s.68 - Revenue s vehement contention before us is that the assessee has not been able to prove the corresponding nexus between the impugned addition viz-a-vis the sum assessed in M/s.J.B.Educational ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stant batch of five appeals involves almost all identical interconnected issues. The same are therefore taken up for adjudication. 3. Both the learned representatives submitted before us that the assessee s first and foremost identical grievance pleaded in AYs.2006-07 to 2009-10 s ground Nos.2 3 challenges correctness of both the lower authorities action treating the corresponding receipts of ₹ 12,98,135/-, ₹ 2,55,916/- and ₹ 45,22,790/-; as income from house property business income; as the case may be as per its P L account; respectively. After vehemently arguing in favour of assessee s instant grievance for some time, learned counsel rose to his seniority and submitted that it no more wishes to press for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d under the head business income as well so as to avoid double addition. It is made clear that it shall be the assessee s risk and responsibility only to file on record all the relevant details proving that the very sums of additions before us have also been assessed under the head income from house property and business income; as the case may be. Needful shall be done within three effective opportunities of hearing. This first issue raised in the assessee s former three substantive grounds in AYs.2006-07, 2007-08, 2008-09 and 2009-10 is partly accepted for statistical purposes in foregoing terms. 4. Next comes the assessee s second substantive issue raised in its ground No.5 in AYs.2006-07, 2007-08 and 2008- 09 and Ground No.4 each in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rposes in foregoing terms. The assessee s appeals 294, 295 and 296/Hyd/2013 for AYs.2006-07 to 2008-09; respectively raising the instant twin ground only are partly allowed for statistical purposes in above terms. 5. This leaves us with the assessee s third substantive ground each in ITA Nos.297 and 298/Hyd/2013 for AYs.2009- 10 and 2010-11 seeking to delete interest disallowance(s) of ₹ 19,34,277/- and ₹ 14,55,802/-; respectively. After vehemently arguing some time in support of the assessee s grievance, learned counsel informed us that he no more wishes to press for the same keeping in mind the smallness of the amounts therein. This assessee s third substantive ground is rejected as not pressed in foregoing terms. 5.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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