Sinking Funds Appropriation Considered Rent; Taxable as Revenue Receipt Due to Assessee's Beneficial Retention.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Nature of amount appropriated towards the Sinking Funds - The income was used by the assessee and for the assessee and the assessee retained the benefit arising therefrom - it is the part of rent and taxable as revenue receipt - HC....