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1 - 10 of 12 (1.33 seconds)Section 32 in The Income Tax Act, 1961 [Entire Act]
Section 22 in The Income Tax Act, 1961 [Entire Act]
Addl. Commissioner Of Income-Tax vs Lakshmi Industries And Cold Storage Co. ... on 6 August, 1982
The judgment in CIT v. Lakshmi Co. (1982) 133 ITR 904 (Mad.) is distinguishable from the facts of the case. It is a case where the assessee went on putting up additional constructions and letting it out to various tenants which was in the nature of business activity, because, as pointed out in the earlier paragraph, it is a case where there is continuous activity and, therefore, that judgment is distinguishable on facts.
Section 26 in The Income Tax Act, 1961 [Entire Act]
Section 27 in The Income Tax Act, 1961 [Entire Act]
Section 256 in The Income Tax Act, 1961 [Entire Act]
Section 263 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income-Tax, Andhra ... vs Phabiomal & Sons on 29 November, 1984
We are fortified in our view by a judgment of this Court in Phabiormal & Sons case (supra), wherein it was held that letting out a building and realising rents therefrom did not amount to carry in on of business.