https://www.taxtmi.com/caselaws?id=68067 Rental receipts from the assessee's building and hotel were treated as business income where the memorandum authorised hotel and property-related activities and the relevant year's facts showed construction of a hotel building with rent derived from parts of the same premises. The earlier assessment year did not govern the later year because each year must be decided on its own facts. On that basis, the receipts were characterised as part of the assessee's business activity, so the related business deductions were allowable and the consequential interest liability under sections 139(8) and 217 followed the same treatment. en-us Wed, 02 Nov 1988 00:00:00 +0530 Wed, 16 Mar 2011 17:13:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68067 Rental receipts from the assessee's building and hotel were treated as business income where the memorandum authorised hotel and property-related activities and the relevant year's facts showed construction of a hotel building with rent derived from parts of the same premises. The earlier assessment year did not govern the later year because each year must be decided on its own facts. On that basis, the receipts were characterised as part of the assessee's business activity, so the related business deductions were allowable and the consequential interest liability under sections 139(8) and 217 followed the same treatment. Case-Laws Income Tax Wed, 02 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68067