Itta/641/2017 Of The Pr.commissioner Of Income Tax - 6 v. Vijay Infotech Ventures

THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY AND THE HON'BLE SRI JUSTICE CHALLA KODANDA RAM I.T.T.A.No. 641 OF 2017 DATED 08 NOVEMBER, 2017 Between: The Principal Commissioner of Income Tax – VI, … Hyderabad Appellant AND Vijay Infotech Ventures, 402, Ground Floor, Surya Towers, Secunderabad … Respondent : Counsel for the appellant Smt. M.Kiranmayee : -- Counsel for the respondent THE COURT MADE THE FOLLOWING JUDGMENT:(per Hon'ble Sri Justice C.V.Nagarjuna Reddy) This appeal by the Revenue is filed against order dated 30-12-2016 in I.T.A.No. 1200/Hyd/2015 on the file of the Income Tax Appellate Tribunal, Hyderabad Bench "B", Hyderabad (for short, 'the Tribunal'). 2. The issue decided by the Tribunal against the Revenue and in favour of the assessee was whether lease rentals derived from buildings leased out for industrial park have to be treated as business income or not. Learned senior standing counsel has fairly submitted that I.T.T.A.No. 615 of 2017 filed against the common order quaI.T.A.No. 1199/Hyd/2015 pertaining to the assessment year 2011-12 concerning the same assessee-respondent was dismissed by this Court confirming the common order which is assailed in this appeal. 3. In the light of the above and following the reasons mentioned in the said order, this appeal is also dismissed. ___________________________ C.V.NAGARJUNA REDDY, J. ___________________________ Date: 08-11-20-17. CHALLA KODANDA RAM, J. JSK