1998 (12) TMI 41

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....t the instance of the Revenue, the following question of law has been referred to us : "Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the income from the godown is assessable under the head 'Business' and not under the head 'Property' ?" The assessee is a Hindu undivided family and derives income from property and business. The busin....

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....n are intimately connected with the specific nature of the activities carried on by the assessee and it is not as if the lessees could sublet or carry on any other activity in the godown let out to them. In the facts and circumstances of the case, the Commissioner of Income-tax (Appeals) was justified in drawing the correct inference from the facts found by him and arriving at the correct conclusi....