https://www.taxtmi.com/caselaws?id=37207 The income derived by Hindustan Machine Tools Ltd. from leasing out premises in its industrial estate was held to be assessable as "Income from business" under section 28 of the Income-tax Act, 1961. The courts determined that the leasing of sheds was integral to the assessee's manufacturing activities, aimed at securing a steady supply of components for its machine tools business. The income was deemed to be directly linked to the business operations, providing services to ancillary units, and not merely from property rights. Therefore, the income was assessed as business income rather than income from house property. en-us Fri, 15 Jun 1979 00:00:00 +0530 Sat, 27 Mar 2010 14:01:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37207 The income derived by Hindustan Machine Tools Ltd. from leasing out premises in its industrial estate was held to be assessable as "Income from business" under section 28 of the Income-tax Act, 1961. The courts determined that the leasing of sheds was integral to the assessee's manufacturing activities, aimed at securing a steady supply of components for its machine tools business. The income was deemed to be directly linked to the business operations, providing services to ancillary units, and not merely from property rights. Therefore, the income was assessed as business income rather than income from house property. Case-Laws Income Tax Fri, 15 Jun 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37207