https://www.taxtmi.com/caselaws?id=49736 Income from temporarily letting out a dyeing plant remained business income because the plant continued to be a commercial asset of the manufacturing business, even though it was idle for a period due to shortage of raw material. The Court held that temporary non-use by the owner does not destroy the asset's business character where it is still capable of business use and is exploited to earn income. The contrary view, treating such receipts as income from another source, was rejected; the rent was therefore chargeable to excess profits tax. en-us Tue, 18 Sep 1951 00:00:00 +0530 Mon, 03 Nov 2025 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49736 Income from temporarily letting out a dyeing plant remained business income because the plant continued to be a commercial asset of the manufacturing business, even though it was idle for a period due to shortage of raw material. The Court held that temporary non-use by the owner does not destroy the asset's business character where it is still capable of business use and is exploited to earn income. The contrary view, treating such receipts as income from another source, was rejected; the rent was therefore chargeable to excess profits tax. Case-Laws Income Tax Tue, 18 Sep 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49736