https://www.taxtmi.com/caselaws?id=13169 Properties provided by a company to its directors as residential accommodation were treated as part of the business asset base because the use formed an incident of carrying on business. On that footing, the related income was not assessable separately under the head "income from house property". Once the properties were characterised as business assets used in the course of business, depreciation and other expenses attributable to them were allowable as business deductions. The questions were therefore answered in favour of the assessee and against the Revenue. en-us Mon, 18 Jun 2001 00:00:00 +0530 Tue, 26 May 2009 17:41:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13169 Properties provided by a company to its directors as residential accommodation were treated as part of the business asset base because the use formed an incident of carrying on business. On that footing, the related income was not assessable separately under the head "income from house property". Once the properties were characterised as business assets used in the course of business, depreciation and other expenses attributable to them were allowable as business deductions. The questions were therefore answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Mon, 18 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13169