https://www.taxtmi.com/caselaws?id=25464 The court held that the income received by the proprietor from the managing contractor, under a fixed-term lease with guaranteed payments and royalties based on production, should be classified as income from other sources, not from business. The court emphasized the lack of control and direct nexus with the business's profits or losses, overruling previous decisions that classified the income as from business. The High Court ruled in favor of the Revenue, determining that the income falls under the category of income from other sources under the Income-tax Act, 1961. en-us Tue, 12 May 1987 00:00:00 +0530 Thu, 28 Jan 2010 17:21:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25464 The court held that the income received by the proprietor from the managing contractor, under a fixed-term lease with guaranteed payments and royalties based on production, should be classified as income from other sources, not from business. The court emphasized the lack of control and direct nexus with the business's profits or losses, overruling previous decisions that classified the income as from business. The High Court ruled in favor of the Revenue, determining that the income falls under the category of income from other sources under the Income-tax Act, 1961. Case-Laws Income Tax Tue, 12 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25464