https://www.taxtmi.com/caselaws?id=61330 The tribunal allowed the carrying forward of losses in respect of the assessee's share from M/s Punjab Industrial Works, Khanna. Despite the factory being leased out, it was deemed the same commercial asset, justifying the continuation of carrying forward losses. Citing relevant judgments, the tribunal concluded in favor of the assessee, emphasizing the business nature of income from leased commercial assets. The decision aligned with previous rulings and rejected the Revenue's argument that the factory being leased out constituted a different business. The appeal was allowed, granting the assessee the right to carry forward the losses. en-us Mon, 18 Feb 1985 00:00:00 +0530 Wed, 12 Jan 2011 12:23:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61330 The tribunal allowed the carrying forward of losses in respect of the assessee's share from M/s Punjab Industrial Works, Khanna. Despite the factory being leased out, it was deemed the same commercial asset, justifying the continuation of carrying forward losses. Citing relevant judgments, the tribunal concluded in favor of the assessee, emphasizing the business nature of income from leased commercial assets. The decision aligned with previous rulings and rejected the Revenue's argument that the factory being leased out constituted a different business. The appeal was allowed, granting the assessee the right to carry forward the losses. Case-Laws Income Tax Mon, 18 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61330