https://www.taxtmi.com/caselaws?id=169524 Deduction under section 12(2) required proof that expenditure was incurred solely for earning income; litigation costs linked to company shares and interest on overdrafts used for taxes, revenue dues and share call money did not satisfy that test. Forest receipts were treated as taxable rather than agricultural income, following the court's earlier view that forest income does not acquire agricultural character merely from its source. Remuneration received by a shebait under a private trust was also not agricultural income, because contractual commission paid by reference to agricultural receipts does not become agricultural income in the recipient's hands. The tax authority's position was sustained on each issue. en-us Wed, 24 Apr 1957 00:00:00 +0530 Fri, 24 Apr 2015 18:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169524 Deduction under section 12(2) required proof that expenditure was incurred solely for earning income; litigation costs linked to company shares and interest on overdrafts used for taxes, revenue dues and share call money did not satisfy that test. Forest receipts were treated as taxable rather than agricultural income, following the court's earlier view that forest income does not acquire agricultural character merely from its source. Remuneration received by a shebait under a private trust was also not agricultural income, because contractual commission paid by reference to agricultural receipts does not become agricultural income in the recipient's hands. The tax authority's position was sustained on each issue. Case-Laws Income Tax Wed, 24 Apr 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169524