https://www.taxtmi.com/caselaws?id=26013 The High Court ruled that the rental income from both the building and equipment should be treated as 'Income from other sources' under section 56 of the Income-tax Act. The court held that the assessments made against the individuals in their individual status were final, rendering the Commissioner's directions to reassess as an association of persons invalid. The court's decision aligned with the precedent set by the Supreme Court and concluded that the income should be assessed under 'Income from other sources' for both individual co-owners and the association of persons. en-us Tue, 12 Feb 1985 00:00:00 +0530 Tue, 02 Feb 2010 12:47:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26013 The High Court ruled that the rental income from both the building and equipment should be treated as 'Income from other sources' under section 56 of the Income-tax Act. The court held that the assessments made against the individuals in their individual status were final, rendering the Commissioner's directions to reassess as an association of persons invalid. The court's decision aligned with the precedent set by the Supreme Court and concluded that the income should be assessed under 'Income from other sources' for both individual co-owners and the association of persons. Case-Laws Income Tax Tue, 12 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26013