https://www.taxtmi.com/caselaws?id=14815 Lease money received from letting machinery on hire was not business income where the assessee was not carrying on any business during the relevant year and merely rented out the imported rotary press on monthly rent. On facts found substantially similar to an earlier decision, the income did not arise from business activity and was therefore assessable as income from other sources, not business income. The reference was answered in the negative, in favour of the Revenue and against the assessee. en-us Tue, 18 Jul 2000 00:00:00 +0530 Sat, 18 Jul 2009 18:08:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14815 Lease money received from letting machinery on hire was not business income where the assessee was not carrying on any business during the relevant year and merely rented out the imported rotary press on monthly rent. On facts found substantially similar to an earlier decision, the income did not arise from business activity and was therefore assessable as income from other sources, not business income. The reference was answered in the negative, in favour of the Revenue and against the assessee. Case-Laws Income Tax Tue, 18 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14815