https://www.taxtmi.com/caselaws?id=352775 Where a company had not carried on mining operations for several years and merely let out machinery on a long-term basis to a sister concern, the lease receipts were treated as a separate source of income and assessed as income from other sources, not as business income. The reported lease rent mismatch between the return and Form 26AS/TDS figures was also not reconciled, so the higher figure was upheld. On the related claims for dead rent, environment expenses, and salary and wages, the genuineness and business necessity of the expenditure had not been properly verified, so the matter was remitted for verification rather than finally disallowed on merits. en-us Fri, 17 Nov 2017 00:00:00 +0530 Thu, 21 Dec 2017 08:18:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352775 Where a company had not carried on mining operations for several years and merely let out machinery on a long-term basis to a sister concern, the lease receipts were treated as a separate source of income and assessed as income from other sources, not as business income. The reported lease rent mismatch between the return and Form 26AS/TDS figures was also not reconciled, so the higher figure was upheld. On the related claims for dead rent, environment expenses, and salary and wages, the genuineness and business necessity of the expenditure had not been properly verified, so the matter was remitted for verification rather than finally disallowed on merits. Case-Laws Income Tax Fri, 17 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352775