https://www.taxtmi.com/caselaws?id=207154 The High Court held that the income from letting out the factory should be classified as "income from other sources" and not as "business income." The court found that there was no evidence of the assessee's intent to resume business or that the lease was temporary. The decision was made against the assessee, overturning the orders of the appellate authority and the Tribunal. The Revenue's appeals were allowed, and the previous orders were set aside without costs awarded. en-us Fri, 29 Apr 2011 00:00:00 +0530 Mon, 26 Mar 2012 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207154 The High Court held that the income from letting out the factory should be classified as "income from other sources" and not as "business income." The court found that there was no evidence of the assessee's intent to resume business or that the lease was temporary. The decision was made against the assessee, overturning the orders of the appellate authority and the Tribunal. The Revenue's appeals were allowed, and the previous orders were set aside without costs awarded. Case-Laws Income Tax Fri, 29 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207154