https://www.taxtmi.com/caselaws?id=24005 The High Court upheld the Tribunal's decision to assess rental income from film studios as 'business income' due to the individual's business activities in the film industry. The court found the Tribunal's view reasonable, considering the consistent factual background. Additionally, the court allowed the expenditure on valuing studios for wealth-tax assessment as a deduction under section 37, emphasizing its relation to business preservation and tax liability reduction. en-us Thu, 15 Jun 1989 00:00:00 +0530 Fri, 15 Jan 2010 17:32:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24005 The High Court upheld the Tribunal's decision to assess rental income from film studios as 'business income' due to the individual's business activities in the film industry. The court found the Tribunal's view reasonable, considering the consistent factual background. Additionally, the court allowed the expenditure on valuing studios for wealth-tax assessment as a deduction under section 37, emphasizing its relation to business preservation and tax liability reduction. Case-Laws Income Tax Thu, 15 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24005