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Judgment
Prasad and Ranjan, JJ.—Commission of income tax, aggrieved by the order dated 31st of October, 2002 passed by the Patna Bench of the income tax Tribunal in ITA No. 112/Pat/2002, has preferred this appeal u/s 260A of the income tax Act. By order dated 12.10.2006, the appeal was admitted on the following substantial questions of law:-
"1. Whether on the facts and in the circumstances of the case, the Tribunal was justified in upsetting the finding of the Income Tax Officer and the Commissioner of Income Tax and correct in law in holding that income derived by the assessee by letting out the Godown to Franco India Pharma ceuticals Ltd. on rent was taxable under the head ''Income From Business'' and not under the head ''Income From House Property?"
Mrs. Archana Sinha, appears on behalf of the appellant; whereas the respondent is represented by Mr. D.V. Pathy.
It is common ground that the question of law involved in this appeal has already been answered by a Division Bench of this Court in the case of Commissioner of Income Tax Vs. Mithila Properties Publication and Contractor Enterprises (P.) Ltd. . In the said case it has been held as follows:-
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"The discussions aforesaid, lead me to conclude that the rental income derived by the assessee does not come within the head ''income from house property'' but assessable under the head ''income from business."
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In view of aforesaid, the appeal has no merit. It is, accordingly, dismissed but without any order as to cost.