https://www.taxtmi.com/caselaws?id=69017 Receipts from letting out office premises and factory sheds on ordinary lease terms, without services or use in the assessee's own business, were treated as income from property because the assets were merely surplus property after closure of the earlier business. Composite rent from the Mowbreys Road shed, plant and machinery was assessed as income from other sources, as the lease was a composite letting to an independent lessee and supervisory clauses did not make it a business activity. The claim for depreciation and investment allowance on Bangalore factory plant and machinery was remitted for fresh factual verification of commencement of manufacture and actual use during the year. en-us Tue, 06 Jun 1989 00:00:00 +0530 Mon, 04 Apr 2011 15:27:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69017 Receipts from letting out office premises and factory sheds on ordinary lease terms, without services or use in the assessee's own business, were treated as income from property because the assets were merely surplus property after closure of the earlier business. Composite rent from the Mowbreys Road shed, plant and machinery was assessed as income from other sources, as the lease was a composite letting to an independent lessee and supervisory clauses did not make it a business activity. The claim for depreciation and investment allowance on Bangalore factory plant and machinery was remitted for fresh factual verification of commencement of manufacture and actual use during the year. Case-Laws Income Tax Tue, 06 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69017