https://www.taxtmi.com/caselaws?id=5949 Dividend income from shareholdings may be assessed as business income only where the shares are shown to be trading or business assets incidental to the assessee's business; on the facts, the material was insufficient to treat the tea company shares, apart from the Indian subsidiary, as business assets, so that claim failed. The claim for carry forward of unabsorbed depreciation from an earlier year had to be considered on its own merits, and could not be refused merely because a connected assessment was pending; that issue was sent back for fresh reconsideration in favour of the assessee to that extent. en-us Tue, 30 Sep 1986 00:00:00 +0530 Sun, 30 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5949 Dividend income from shareholdings may be assessed as business income only where the shares are shown to be trading or business assets incidental to the assessee's business; on the facts, the material was insufficient to treat the tea company shares, apart from the Indian subsidiary, as business assets, so that claim failed. The claim for carry forward of unabsorbed depreciation from an earlier year had to be considered on its own merits, and could not be refused merely because a connected assessment was pending; that issue was sent back for fresh reconsideration in favour of the assessee to that extent. Case-Laws Income Tax Tue, 30 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5949