Providing of fixtures & fittings to licencee of a premises would not make income from sub-letting of property as business income

 RELEVANT PARAGRAPH 6. We have heard learned counsel for the assessee. Learned counsel for the assessee drew our attention to various clauses in leave and license agreement and submitted that the premises were given purely on license basis with fixtures and fittings. It was also pointed out that under the license agreement, the assessee also retained duplicate key of the main entrance door, which indicates that the control and possession of the premises was always with the assessee. It was therefore submitted by him that it was not a case of sub-letting by the assessee; but mere license grant...