https://www.taxtmi.com/caselaws?id=173484 The Privy Council reversed the High Court's decision and allowed the Commissioner's appeal in a case concerning the assessment of income tax for a Hindu undivided family. The Court held that the deduction for expenditure incurred in erecting buildings must be related to the year in which the income was derived, not justified for expenditure incurred many years before the assessment year under sec. 12 of the Indian Income Tax Act. The judgment clarified the application of sec. 12, addressing income assessment from property on leased land and emphasizing the need for deductions to be linked to the assessment year. en-us Fri, 28 Apr 1933 00:00:00 +0530 Wed, 16 Sep 2015 16:06:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173484 The Privy Council reversed the High Court's decision and allowed the Commissioner's appeal in a case concerning the assessment of income tax for a Hindu undivided family. The Court held that the deduction for expenditure incurred in erecting buildings must be related to the year in which the income was derived, not justified for expenditure incurred many years before the assessment year under sec. 12 of the Indian Income Tax Act. The judgment clarified the application of sec. 12, addressing income assessment from property on leased land and emphasizing the need for deductions to be linked to the assessment year. Case-Laws Income Tax Fri, 28 Apr 1933 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173484