1997 (2) TMI 90 - HC - Income Tax

Summary

The High Court of Madras ruled that income from property at No. 54 Arch Bishop Mathias Avenue should not be assessed in the assessee's hands as it was used for business purposes. The Tribunal held that income derived from letting out property to employees is incidental to the business and should be considered as income from business. The decision was based on a previous court ruling.