https://www.taxtmi.com/caselaws?id=25328 The court ruled in favor of the assessee on most issues, except for interest income from bank deposits, which was deemed taxable as "income from other sources." Receipts from letting out quarters to outsiders were to be adjusted against construction costs, not treated as taxable income. Similarly, income from letting out properties and interest from sums advanced to employees and contractors were not taxable. Hire charges for machinery, royalty for stone chips, and miscellaneous receipts were also held non-taxable. The case was decided in favor of the assessee with no costs awarded. en-us Wed, 21 Oct 1987 00:00:00 +0530 Thu, 28 Jan 2010 10:07:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25328 The court ruled in favor of the assessee on most issues, except for interest income from bank deposits, which was deemed taxable as "income from other sources." Receipts from letting out quarters to outsiders were to be adjusted against construction costs, not treated as taxable income. Similarly, income from letting out properties and interest from sums advanced to employees and contractors were not taxable. Hire charges for machinery, royalty for stone chips, and miscellaneous receipts were also held non-taxable. The case was decided in favor of the assessee with no costs awarded. Case-Laws Income Tax Wed, 21 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25328