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2018 (12) TMI 1494 - AT - Income TaxRental income - income assessable under the head “income from house property” OR “income from other sources” - Held that:- The assessee has temporarily let out its factory on rent. The factory building is classified as plant and machinery. The Jurisdictional High Court in the case of CIT vs. Ajmira Industries Pvt. Ltd.[1974 (5) TMI 13 - CALCUTTA HIGH COURT] held that the if an assessee derives any income by exploitation of commercial assets whether itself or though other agencies, such income should be assessed under the head “business income”. The income in question is directed to be assessed under the head “income from other sources”. Appeal of the assessee is allowed.
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