ITAT allows Rental Income from subleasing of commercial properties for more than 12 Years as House Property Income

DCIT Vs Pfizer Ltd (ITAT Mumbai) AO treated the rental income of Rs. 5,47,89,000/- received by the assessee from subleasing of commercial properties as income from business as against claim of the assessee being income from house property on the ground that renting out of premises amounts to commercial exploitation for business purpose by the assessee. However, Ld. CIT(A) by relying on the order passed by Tribunal in assessee‟s own case for AY 1998-99, 1999-00, 2000-01 and 2001-02 qua identical issues deleted the additions. We have perused the order passed by Ld. CIT(A) who has duly thrashed...