https://www.taxtmi.com/caselaws?id=65726 Leasing a running oil mill for a limited period, with the lessee allowed to use the mill name and existing licences, was treated as exploitation of a commercial asset; the rental receipt was held to be business income rather than income from other sources. On the partnership issue, mere cessation of business did not amount to dissolution, and in the absence of a lawful dissolution or use of the cancellation machinery, the firm was held to continue for tax purposes. The assessee was therefore entitled to continuation of registration under section 184(7), and the assessments were to be framed in the status of a registered firm. en-us Thu, 17 May 1979 00:00:00 +0530 Fri, 18 Feb 2011 14:53:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65726 Leasing a running oil mill for a limited period, with the lessee allowed to use the mill name and existing licences, was treated as exploitation of a commercial asset; the rental receipt was held to be business income rather than income from other sources. On the partnership issue, mere cessation of business did not amount to dissolution, and in the absence of a lawful dissolution or use of the cancellation machinery, the firm was held to continue for tax purposes. The assessee was therefore entitled to continuation of registration under section 184(7), and the assessments were to be framed in the status of a registered firm. Case-Laws Income Tax Thu, 17 May 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65726