https://www.taxtmi.com/caselaws?id=277316 Rental income from a dyeing plant let out after it had become idle was business income only if the plant remained a commercial asset capable of use in the assessee's trade at the time of letting. Where an asset has ceased to be usable in the business and is exploited only because the assessee cannot employ it himself, the rent is not profit from business. Applying that test, the plant had become idle due to wartime difficulty in obtaining silk yarn and had ceased to be a commercial asset in the assessee's hands, so the rental was not liable to excess profits tax as business income. en-us Tue, 23 Mar 1948 00:00:00 +0530 Sat, 01 Dec 2018 11:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277316 Rental income from a dyeing plant let out after it had become idle was business income only if the plant remained a commercial asset capable of use in the assessee's trade at the time of letting. Where an asset has ceased to be usable in the business and is exploited only because the assessee cannot employ it himself, the rent is not profit from business. Applying that test, the plant had become idle due to wartime difficulty in obtaining silk yarn and had ceased to be a commercial asset in the assessee's hands, so the rental was not liable to excess profits tax as business income. Case-Laws Income Tax Tue, 23 Mar 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277316