https://www.taxtmi.com/caselaws?id=70009 The Tribunal upheld the inclusion of sums as business income under Section 161(1A) for the assessment years 1985-86 and 1986-87, derived from leasing out distributorship rights, taxed at the maximum marginal rate. Income from Varalakshmi Agencies was considered business income, not income from other sources. Section 161(1A) was applied to the whole income, not just business income. The sub-distributorship agreement was deemed valid, and the assessee was treated as an association of persons for tax assessment purposes. The Tribunal dismissed the assessee's appeals, affirming the lower authorities' decisions. en-us Tue, 30 Apr 1991 00:00:00 +0530 Wed, 13 Apr 2011 14:08:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70009 The Tribunal upheld the inclusion of sums as business income under Section 161(1A) for the assessment years 1985-86 and 1986-87, derived from leasing out distributorship rights, taxed at the maximum marginal rate. Income from Varalakshmi Agencies was considered business income, not income from other sources. Section 161(1A) was applied to the whole income, not just business income. The sub-distributorship agreement was deemed valid, and the assessee was treated as an association of persons for tax assessment purposes. The Tribunal dismissed the assessee's appeals, affirming the lower authorities' decisions. Case-Laws Income Tax Tue, 30 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70009