https://www.taxtmi.com/caselaws?id=49701 Where a manufacturing business has completely ceased, rent from letting out plant, machinery and allied assets is not treated as carrying on a business under the Excess Profits Tax Act; the income is viewed as exploitation of redundant property, not a trading operation. Section 10A cannot be used to amalgamate the incomes of related firms unless the Act is otherwise applicable to an existing business of the assessee during the relevant period, so the anti-avoidance machinery fails where no such business exists. On that basis, the share of income of a partner in a connected selling agency firm could not be included in the assessee's excess profits tax assessment. en-us Mon, 25 Oct 1954 00:00:00 +0530 Tue, 09 Sep 2014 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49701 Where a manufacturing business has completely ceased, rent from letting out plant, machinery and allied assets is not treated as carrying on a business under the Excess Profits Tax Act; the income is viewed as exploitation of redundant property, not a trading operation. Section 10A cannot be used to amalgamate the incomes of related firms unless the Act is otherwise applicable to an existing business of the assessee during the relevant period, so the anti-avoidance machinery fails where no such business exists. On that basis, the share of income of a partner in a connected selling agency firm could not be included in the assessee's excess profits tax assessment. Case-Laws Income Tax Mon, 25 Oct 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49701