https://www.taxtmi.com/caselaws?id=118338 The Tribunal ruled in favor of the appellant, determining that the rental income should not be taxed in the hands of the company but in the hands of the shareholders who were deemed the beneficial owners of the property. The distribution of rental income to shareholders was not considered a dividend, thus not subject to dividend distribution tax. Additionally, the rental income was excluded from the computation of book profits under section 115JB, resulting in the appellant not being liable to pay minimum alternative tax for the relevant year. The appeal of the appellant was allowed. en-us Fri, 21 Apr 2006 00:00:00 +0530 Sat, 30 Jun 2012 10:09:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118338 The Tribunal ruled in favor of the appellant, determining that the rental income should not be taxed in the hands of the company but in the hands of the shareholders who were deemed the beneficial owners of the property. The distribution of rental income to shareholders was not considered a dividend, thus not subject to dividend distribution tax. Additionally, the rental income was excluded from the computation of book profits under section 115JB, resulting in the appellant not being liable to pay minimum alternative tax for the relevant year. The appeal of the appellant was allowed. Case-Laws Income Tax Fri, 21 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118338