https://www.taxtmi.com/caselaws?id=180990 Depreciation was allowable on the Ootacamund hotel building because it had been constructed and fitted for the assessee's hotel business, and the memorandum of association authorised the company to let out its undertaking or parts of it. The letting of the hotel premises was treated as an activity within the company's business objects, so the premises did not cease to be a business asset merely because another party used them under lease. Applying the earlier Full Bench principle on leasing of an undertaking, the court treated the business of letting as part of the assessee's business and held that the income was not confined to treatment under the property income provision. en-us Tue, 31 Jan 1939 00:00:00 +0530 Tue, 05 Apr 2016 16:16:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180990 Depreciation was allowable on the Ootacamund hotel building because it had been constructed and fitted for the assessee's hotel business, and the memorandum of association authorised the company to let out its undertaking or parts of it. The letting of the hotel premises was treated as an activity within the company's business objects, so the premises did not cease to be a business asset merely because another party used them under lease. Applying the earlier Full Bench principle on leasing of an undertaking, the court treated the business of letting as part of the assessee's business and held that the income was not confined to treatment under the property income provision. Case-Laws Income Tax Tue, 31 Jan 1939 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180990