https://www.taxtmi.com/caselaws?id=8129 Salami, premium and compensation received from granting sub-leases and from compulsory acquisition of leasehold rights were treated as business income because the company was carrying on organised profit-making activity. The Court looked to the substance of the company's operations, including its commercial objects, repeated sub-leasing, profits, dividends and reserve fund, and held that the leasehold and sub-leasehold rights were employed as trading assets or circulating capital rather than held merely as family property. On that footing, the receipts were revenue in character and not capital accretions, and the exclusion of those sums from total income was unjustified. en-us Wed, 12 Aug 1970 00:00:00 +0530 Sat, 28 Mar 2009 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8129 Salami, premium and compensation received from granting sub-leases and from compulsory acquisition of leasehold rights were treated as business income because the company was carrying on organised profit-making activity. The Court looked to the substance of the company's operations, including its commercial objects, repeated sub-leasing, profits, dividends and reserve fund, and held that the leasehold and sub-leasehold rights were employed as trading assets or circulating capital rather than held merely as family property. On that footing, the receipts were revenue in character and not capital accretions, and the exclusion of those sums from total income was unjustified. Case-Laws Income Tax Wed, 12 Aug 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8129