https://www.taxtmi.com/caselaws?id=62867 The Tribunal held that leasing out a computer constitutes carrying on a business and the income should be assessed under the head 'business'. The Tribunal allowed the assessee's claim for investment allowance under section 32A of the Income-tax Act, stating that the machinery being leased out fulfilled the requirements of the provision. The Tribunal rejected the argument that the machinery must be used in an industrial undertaking, finding that the requirement was satisfied. Additionally, the Tribunal distinguished a Supreme Court case involving letting out a building, emphasizing that leasing out a computer for commercial exploitation qualifies as carrying on a business. The Tribunal allowed the assessee's appeal and set aside the Commissioner of Income-tax's order. en-us Thu, 11 Oct 1990 00:00:00 +0530 Sat, 22 Jan 2011 12:50:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62867 The Tribunal held that leasing out a computer constitutes carrying on a business and the income should be assessed under the head 'business'. The Tribunal allowed the assessee's claim for investment allowance under section 32A of the Income-tax Act, stating that the machinery being leased out fulfilled the requirements of the provision. The Tribunal rejected the argument that the machinery must be used in an industrial undertaking, finding that the requirement was satisfied. Additionally, the Tribunal distinguished a Supreme Court case involving letting out a building, emphasizing that leasing out a computer for commercial exploitation qualifies as carrying on a business. The Tribunal allowed the assessee's appeal and set aside the Commissioner of Income-tax's order. Case-Laws Income Tax Thu, 11 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62867