ORDER At the instance of the revenue, this reference is made by the Income Tax Appellate Tribunal for determining the following question:
"Whether on the facts and in the circumstances of the case, the income of the assessed from the flat in the multistoreyed building is to be assessed under the head income from other source" or "Income from house property"?
2. In view of the Apex Court decision in the case of CIT v. Podar Cement (P) Ltd. (1997) 226 ITR 625 (SC), the answer is required to be given against the revenue and in favor of the assessed and the income is to be treated as income from house property. The reference is disposed of accordingly with no order as to costs.
2. In view of the Apex Court decision in the case of CIT v. Podar Cement (P) Ltd. (1997) 226 ITR 625 (SC), the answer is required to be given against the revenue and in favor of the assessed and the income is to be treated as income from house property. The reference is disposed of accordingly with no order as to costs.