08/03/2019
Income from machinery, plant or furniture let on hire [Sea 56(2)(ii‘) (iii)]
Income from machinery, plant or furniture belonging to the assessee and let on hire is taxable as income from other sources if the same is not chargeable to tax under the head “Profits and gains of business or profession When an assessee lets on hire machinery, plant or furniture and also building and letting of building is inseparable from the letting of machinery, plant or furniture, the income from the letting of building is taxable as income from other sources if the same is not chargeable to tax under the head “Profits and gains of business or profession”.
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