https://www.taxtmi.com/caselaws?id=64999 Receipts from a hotel operating agreement were treated as business income because the hotel had been commercially exploited through an experienced operator while the owner retained a profit share, termination rights, and reversion of assets, showing continuation of the business rather than its abandonment. The Tribunal also held that the hotel building was not depreciable as plant, since a hotel structure remains a building and does not become plant merely by being used in hotel operations. The assessee obtained relief on the income characterization issue but failed on depreciation. en-us Wed, 29 Jan 1997 00:00:00 +0530 Fri, 11 Feb 2011 15:49:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64999 Receipts from a hotel operating agreement were treated as business income because the hotel had been commercially exploited through an experienced operator while the owner retained a profit share, termination rights, and reversion of assets, showing continuation of the business rather than its abandonment. The Tribunal also held that the hotel building was not depreciable as plant, since a hotel structure remains a building and does not become plant merely by being used in hotel operations. The assessee obtained relief on the income characterization issue but failed on depreciation. Case-Laws Income Tax Wed, 29 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64999