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New India Construction Co. (P.) Ltd. vs Assistant Commissioner Of Income-Tax on 22 April, 1991
cites
Section 12 in The Income Tax Act, 1961 [Entire Act]
Section 9 in The Income Tax Act, 1961 [Entire Act]
Calcutta Discount Company Limited vs Income-Tax Officer, Companies ... on 1 November, 1960
He pleaded that, more than the actual letting of the composite unit, what is essential is the intention, which is clear from the actual actions and facts. He accordingly contended that, the income from the property, both with and without the air-conditioning facility should be assessed as either income from business or as from other sources but not as income from property. He placed reliance on the Delhi Bench decision in Daljit Exports (India) (P.) Ltd. v. ITO [1991] 36 ITD 305 and submitted that, the building and the air-conditioning are inseparable units or composite units and the income from such units are to be assessed as income from business or from other sources only.
Section 23 in The Income Tax Act, 1961 [Entire Act]
Section 24 in The Income Tax Act, 1961 [Entire Act]
Tinsukia Development Corporation Ltd. vs Commissioner Of Income-Tax on 16 March, 1978
He submitted that, the Commissioner had not appreciated properly the ruling of Calcutta High Court in Tinsukhia Development Corporation Ltd. v. CIT [1979] 120 ITR 466. He contended that, in this ruling the Calcutta High Court had only laid down that, the Income-tax Act which defines certain heads of income for assessment under that Act and the income could be assessed only under those heads. He pleaded that, there is no dispute to this principle, but what need to be seen is whether, the head of income sought to be applied in the case of the appellant company is proper and in line with its facts or not. He pleaded that, the nature of the income determines the head of income under which it could be assessed and it is not the head of income, which would determine the nature of income. The nature of income of the appellant company is composite for the building and the air-conditioning, though they were not simultaneous and, therefore, it is only proper that, the income is assessed under business or income from other sources.
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