1998 (7) TMI 66 - HC - Income Tax

Summary

The High Court of Patna ruled that the rental income of the assessee from letting out premises should not be assessed as business income. The decision was based on a previous case, CIT vs. Ramdas and Sons, where the court concluded that the income should not be treated as business income. The Tribunal's decision was overturned in favor of the Revenue and against the assessee.