https://www.taxtmi.com/caselaws?id=335767 The High Court ruled in favor of the Revenue and against the applicant assessee regarding the appropriation towards the Sinking Funds. The Court classified the amount as part of the rent received and a revenue receipt, aligning with a previous judgment on a similar issue. The second issue on the classification of the contribution to the Sinking Fund as a capital receipt was not pursued. The Court resolved the Reference in favor of the Revenue based on the affirmative answer to the first question, emphasizing the deductibility of the appropriated amount in computing the assessee's total income for the relevant assessment year. en-us Tue, 29 Nov 2016 00:00:00 +0530 Thu, 08 Dec 2016 21:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335767 The High Court ruled in favor of the Revenue and against the applicant assessee regarding the appropriation towards the Sinking Funds. The Court classified the amount as part of the rent received and a revenue receipt, aligning with a previous judgment on a similar issue. The second issue on the classification of the contribution to the Sinking Fund as a capital receipt was not pursued. The Court resolved the Reference in favor of the Revenue based on the affirmative answer to the first question, emphasizing the deductibility of the appropriated amount in computing the assessee's total income for the relevant assessment year. Case-Laws Income Tax Tue, 29 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335767