AJIT KUMAR SENGUPTA, J. - (1.) IN this reference under S. 256(1) of the IT Act, 1961 for the asst. yr. 1975-76 the following question of law has been referred to this Court: "Whether, on the facts and in the circumstances of the case, the Tribunal failed to take proper note of cl. VI of the deed of assignment dt. 3rd Sept.,1966 and whether on the facts and in the circumstances of the case, the Tribunal was justified in holding that Park Hotel (P) Ltd. was not the owner of the superstructure built up on the land at 15.Park Street, Calcutta-700016 till during the tenure of lease and that income arising therefrom should be assessed under the head 'business' and not under the head 'house property' ?"
(2.) IT is not in dispute that this question is now concluded by the decision of this Court in the case of this assessee reported in Park Hotel (P) Ltd.vs.CIT (1987) 59 CTR (Cal) 228 : (1987) 167 ITR 60 (Cal). Following the said decision we answer the question in this reference by saying that the Tribunal did not fail to take proper note of cl. VI of the deed of assignment dt. 3rd Sept.,1966 and the Tribunal was justified in holding that Park Hotel (P) Ltd. was not the owner of the superstructure built up no the land at 15,Park Street, Calcutta-16 till during the tenure of the lease and that income arising therefrom was rightly assessed under the head 'Business' and not under the head 'House property' There will be no order as to costs. leave is given to file the Vakalatnama within 2 weeks from date.;