Income from hiring of inseparable factory building and Plant & Machinery taxable as Income from Other Sources

Flotherm Engineers Private Limited Vs DCIT (ITAT chennai) The undisputed facts that emerge are that the assessee has ceased its business operations and leased out factory building and Plant & Machinery to one lessee under two separate agreements. However, the terms and conditions of both the leases are pari-materia the same. The terms of the lease agreements led to formation of belief that the intention of the assessee was to lease out both the assets together to the same person and for the same The separate agreements could only be considered as the deeds of convenience deigned to suit t...