https://www.taxtmi.com/caselaws?id=16438 The court classified lease rent as income from other sources, not business income, due to the assessee's intention to let out assets. Deductions for interest paid on machinery, compensation to Buckau Wolf, and travelling expenses were disallowed as the assets were not used for the assessee's business. Income from leasing a hostel was considered business income based on evidence of running it as a business. The court ruled against the assessee on issues 1, 2, 3, and 4, with no costs awarded. en-us Wed, 13 Jan 1999 00:00:00 +0530 Mon, 07 Sep 2009 17:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16438 The court classified lease rent as income from other sources, not business income, due to the assessee's intention to let out assets. Deductions for interest paid on machinery, compensation to Buckau Wolf, and travelling expenses were disallowed as the assets were not used for the assessee's business. Income from leasing a hostel was considered business income based on evidence of running it as a business. The court ruled against the assessee on issues 1, 2, 3, and 4, with no costs awarded. Case-Laws Income Tax Wed, 13 Jan 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16438