https://www.taxtmi.com/caselaws?id=24172 The court ruled in favor of the assessee, holding that the rental income received by the directors, who were considered the owners of the building, should not be included in the company's income for the assessment year 1978-79. The court emphasized the distinction between possession and ownership, stating that the income rightfully belonged to the directors and not the company. The judgment was delivered in favor of the assessee, with no order as to costs. en-us Thu, 06 Apr 1989 00:00:00 +0530 Mon, 18 Jan 2010 11:37:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24172 The court ruled in favor of the assessee, holding that the rental income received by the directors, who were considered the owners of the building, should not be included in the company's income for the assessment year 1978-79. The court emphasized the distinction between possession and ownership, stating that the income rightfully belonged to the directors and not the company. The judgment was delivered in favor of the assessee, with no order as to costs. Case-Laws Income Tax Thu, 06 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24172