https://www.taxtmi.com/caselaws?id=58399 The Tribunal determined that the lease rent received by the assessee-company should be treated as business income due to the intention to continue business operations through the co-operative society, supported by ancillary activities and financial support to sugarcane growers. The Tribunal dismissed departmental appeals and ruled in favor of the assessee on all major issues, including the treatment of lease rent, disallowance of interest payment, disallowance of traveling expenses, classification of receipts from the hostel, and expenses incurred in the transport of machinery for the assessment year 1974-75. en-us Wed, 31 Oct 1984 00:00:00 +0530 Sat, 18 Dec 2010 17:58:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58399 The Tribunal determined that the lease rent received by the assessee-company should be treated as business income due to the intention to continue business operations through the co-operative society, supported by ancillary activities and financial support to sugarcane growers. The Tribunal dismissed departmental appeals and ruled in favor of the assessee on all major issues, including the treatment of lease rent, disallowance of interest payment, disallowance of traveling expenses, classification of receipts from the hostel, and expenses incurred in the transport of machinery for the assessment year 1974-75. Case-Laws Income Tax Wed, 31 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58399