https://www.taxtmi.com/caselaws?id=23989 The High Court determined that the rental income from a cinema building, initially let out due to licensing issues but later operated by the assessee, constituted business income. The court emphasized the assessee's intention to run the cinema, substantial investment, and subsequent operation post-license. As a result, the income was classified as business income rather than income from other sources, leading to the allowance of development rebate on the plant and machinery let out. The Tribunal's decision was upheld in favor of the assessee. en-us Mon, 05 Sep 1988 00:00:00 +0530 Fri, 15 Jan 2010 16:47:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23989 The High Court determined that the rental income from a cinema building, initially let out due to licensing issues but later operated by the assessee, constituted business income. The court emphasized the assessee's intention to run the cinema, substantial investment, and subsequent operation post-license. As a result, the income was classified as business income rather than income from other sources, leading to the allowance of development rebate on the plant and machinery let out. The Tribunal's decision was upheld in favor of the assessee. Case-Laws Income Tax Mon, 05 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23989