Allowing the appeal of the assessee the Tribunal held that ; since activity carried out by assessee was in nature of business activity, hire charges received is assessable as business income and not as income from other sources . ( AY.2010-11)
Nanak Ram Jaisinghani v. ITO (2018) 170 ITD 570 (Delhi) (Trib.)
S.28(i): Business income- Hire charges –Activity of the assessee being business activity ,hire charges received is assessable as business income and not as income from other sources [ S.56 ]