Assessee is\u00a0 engaged in business of hiring and leasing of properties . It declared an income from a self-owned property as income from house property .\u00a0 The\u00a0 assessee also declared rental income received from sub-letting of four other properties not owned by assessee, as income from business . Assessing Officer assessed the entire rental income as income from business .\u00a0 CIT( A) affirmed the view of the AO. On appeal Tribunal held that\u00a0 that the in respect of properties owned by the assessee , the assessee has correctly has offerrd the income as income from house property . On appeal\u00a0 by the Revenue the\u00a0 court held that\u00a0 even if assessee was to be in business of letting or subletting of properties and deriving income therefrom, there was no embargo on assessee from accounting income received by it, from property owned by assessee as Income from house property and at same time, categorizing rental income from other properties not of assessee\u2019s ownership under the head Income from business . Court applied the Rule of constancy and affirmed the order of the Tribunal .\u00a0 \u00a0(AY. 2008 -09 , 2009 -10 , 2010 -11)<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 22 : Income from house property -Income from business \u2013 Letting out property \u2013Business of letting or subletting of properties- Income assessable as income from house property – Rule of consistency should be applicable to tax proceedings .[ S. 24 , 28(i) ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-54344","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-e8w","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=54344"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54344\/revisions"}],"predecessor-version":[{"id":54345,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54344\/revisions\/54345"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}