https://www.taxtmi.com/caselaws?id=5737 SC affirmed the HC's conclusion that income from leasing the factory was business income, not mere income from ownership. The court agreed the lease contained clauses (including an option to purchase) that effectively ended the lessor's rights upon exercise, and that the arrangement was a transient commercial exploitation rather than a permanent retention of business. Findings that the assessee had dismantled and abandoned the business supported treating receipts as business receipts. The SC held the HC's legal conclusion correct and declined to interfere. en-us Tue, 23 Mar 1999 00:00:00 +0530 Thu, 09 Oct 2025 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5737 SC affirmed the HC's conclusion that income from leasing the factory was business income, not mere income from ownership. The court agreed the lease contained clauses (including an option to purchase) that effectively ended the lessor's rights upon exercise, and that the arrangement was a transient commercial exploitation rather than a permanent retention of business. Findings that the assessee had dismantled and abandoned the business supported treating receipts as business receipts. The SC held the HC's legal conclusion correct and declined to interfere. Case-Laws Income Tax Tue, 23 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5737