https://www.taxtmi.com/caselaws?id=37421 The court ruled in favor of the assessee, holding that the annual letting value of a godown used for business by a partnership firm, in which the assessee was a partner, should not be included in the assessee's total income under Section 22 of the Income Tax Act, 1961. The court emphasized that the property must be occupied for business purposes by the assessee, and as a partner in the firm, the assessee was considered to be carrying on business through the partnership. Therefore, the assessee was entitled to the exemption under Section 22, and costs of the reference were awarded to the assessee. en-us Thu, 12 Oct 1978 00:00:00 +0530 Mon, 29 Mar 2010 15:39:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37421 The court ruled in favor of the assessee, holding that the annual letting value of a godown used for business by a partnership firm, in which the assessee was a partner, should not be included in the assessee's total income under Section 22 of the Income Tax Act, 1961. The court emphasized that the property must be occupied for business purposes by the assessee, and as a partner in the firm, the assessee was considered to be carrying on business through the partnership. Therefore, the assessee was entitled to the exemption under Section 22, and costs of the reference were awarded to the assessee. Case-Laws Income Tax Thu, 12 Oct 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37421