https://www.taxtmi.com/caselaws?id=14752 HC held that estimated profit from foreign exchange contracts could not be included in the assessee's total income, following its earlier decision in the assessee's own case, and thereby rejected the Revenue's stand on this issue. On the rental income issue, HC upheld the Tribunal's conclusion that income from letting out part of the assessee's building to tenants constituted "Income from house property" and not "Profits and gains of business or profession". The Court found no nexus between the assessee's banking business and the letting activity, and affirmed assessment of such rental income exclusively under the head "Income from house property". en-us Tue, 09 Jun 1998 00:00:00 +0530 Wed, 17 Dec 2025 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14752 HC held that estimated profit from foreign exchange contracts could not be included in the assessee's total income, following its earlier decision in the assessee's own case, and thereby rejected the Revenue's stand on this issue. On the rental income issue, HC upheld the Tribunal's conclusion that income from letting out part of the assessee's building to tenants constituted "Income from house property" and not "Profits and gains of business or profession". The Court found no nexus between the assessee's banking business and the letting activity, and affirmed assessment of such rental income exclusively under the head "Income from house property". Case-Laws Income Tax Tue, 09 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14752