https://www.taxtmi.com/caselaws?id=38188 A composite lease of a hotel building, furniture, equipment and goodwill for a consolidated rent was treated as commercial exploitation of a business undertaking rather than a mere letting of property. Because the lease covenants showed that the assets were to remain commercial assets and be used in the course of an ongoing hotel business during the lease term, section 9 was held inapplicable and the receipts retained their business character. The income was therefore assessable as business income under section 10 of the Indian Income-tax Act, 1922, rather than as income from property or other sources under section 9 or section 12(4). en-us Thu, 18 Jan 1973 00:00:00 +0530 Tue, 13 Jan 2026 23:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38188 A composite lease of a hotel building, furniture, equipment and goodwill for a consolidated rent was treated as commercial exploitation of a business undertaking rather than a mere letting of property. Because the lease covenants showed that the assets were to remain commercial assets and be used in the course of an ongoing hotel business during the lease term, section 9 was held inapplicable and the receipts retained their business character. The income was therefore assessable as business income under section 10 of the Indian Income-tax Act, 1922, rather than as income from property or other sources under section 9 or section 12(4). Case-Laws Income Tax Thu, 18 Jan 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38188