https://www.taxtmi.com/caselaws?id=15638 The court affirmed the Tribunal's decision that the rental income received should be assessed under "Other sources" for tax purposes, as it did not qualify under "annual value" for "income from property". The court emphasized the broad interpretation of "income" under the Income-tax Act and held that income must be taxed unless expressly exempted. The decision favored the Revenue over the assessee, concluding that the rental income was liable to taxation and should be brought into the tax net. en-us Thu, 30 Sep 1999 00:00:00 +0530 Wed, 26 Aug 2009 15:48:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15638 The court affirmed the Tribunal's decision that the rental income received should be assessed under "Other sources" for tax purposes, as it did not qualify under "annual value" for "income from property". The court emphasized the broad interpretation of "income" under the Income-tax Act and held that income must be taxed unless expressly exempted. The decision favored the Revenue over the assessee, concluding that the rental income was liable to taxation and should be brought into the tax net. Case-Laws Income Tax Thu, 30 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15638