The Commissioner Of Income Tax v. M/S.morarjee Goculdas Spg. & Wvg

(-1-) hvn IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1376 OF 2007 The Commissioner of Income Tax ... Appellant The Commissioner of Income Tax ... Appellant Versus M/s.Morarjee Goculdas Spg. & Wvg. Co. Ltd. ... Respondent Mr.P.S. Sahadevan for the Appellant. Mr.J.D. Mistri with Mr. A.K. Jasani for Respondent. CORAM: F.I.REBELLO&R.S.MOHITE, JJ.DATED: 24TH MARCH, 2009 CORAM: F.I. R.S.MOHITE, JJ. DATED: 24TH MARCH, 2009 P.C.: P.C.: . The tribunal disposed of two appeals preferred by the assessee being ITA No. 2724/Mum/99 and 2723/Mum/99 for the assessment years 12990-91 and 1994-95. . This appeal by the revenue is for the assessment year 1994-95. . The revenue also had preferred an appeal being I.T.A. No. 952 of 2003 in respect of the similar question for the assessment year 1992-93. That appeal was withdrawn by the Revenue which is reflected in the order of this court dated 30.4.2007. The assessee has property which has been let out to governmental departments. The assessee (-2-) were communicated the decision in 1995 in respect of revision of rent in the previous years. That income was sought to be taxed under the head "Casual Income". . Section 25(b), the provision in respect of arrears of rent received was inserted by Finance Act 2000 with effect from 1.4.2001. . The issue there was whether this income which was income from house property can be taxed under any of the head of the income. The tribunal after considering the judgment of the Calcutta High Court as also the Supreme Court in Nalinikant Vs. CIT 61 ITR 428 (SC) held that the income from house property can not be assessed under the residuary head. . After hearing the counsel we find no infirmity with the said findings. Consequently, there is no merit in this appeal which is accordingly dismissed. (R.S.MOHITE, J.) (F.I.REBELLO, J.) (R.S.MOHITE, J.) (F.I.REBELLO, J.)