Shyam Burlap Company Ltd. vs Commissioner of Income Tax

Authority: High Court Date: 2015-09-04 AY: 1996-97 Section: 24, 260A Acts: Income Tax Act 1961, Companies Act 1956 Result: Assessee Citation: 915Taxpundit 14 Justices: Justice Soumitra Pal. And Justice Mir Dara Sheko. Appeal No: ITA No. 163 of 2005
Whether rental income earned by the appellant is assessable under the head 'business' and compensation paid for obtaining possession from lessee/tenant to earn higher income is admissible revenue deduction --- Held Yes

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