https://www.taxtmi.com/caselaws?id=21585 The court ruled that income received from leasing out a factory should be classified as income from other sources, not business income. The lease agreement's clauses indicated an intention to ultimately sell the factory rather than resume business operations. Citing relevant Supreme Court decisions, the court held that the temporary leasing during financial difficulties did not change the factory's commercial character. The Tribunal's classification of the income as business income was overturned in favor of the Revenue. en-us Thu, 06 Feb 1992 00:00:00 +0530 Wed, 25 Nov 2009 15:55:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21585 The court ruled that income received from leasing out a factory should be classified as income from other sources, not business income. The lease agreement's clauses indicated an intention to ultimately sell the factory rather than resume business operations. Citing relevant Supreme Court decisions, the court held that the temporary leasing during financial difficulties did not change the factory's commercial character. The Tribunal's classification of the income as business income was overturned in favor of the Revenue. Case-Laws Income Tax Thu, 06 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21585