https://www.taxtmi.com/caselaws?id=185651 Interest on money borrowed to meet land revenue and agricultural expenses was held not deductible under section 10(2)(iii), because that allowance applies only to capital borrowed for business purposes assessable under the Act. Rent from a flour mill-site was not agricultural income, as it was not derived from land used for agriculture. Lambardari fees were treated as taxable remuneration for collecting land revenue and not as an exempt allowance or agricultural income. Net commission on sale of tenants' produce was also not agricultural income, since it was commission for arranging sales and not income derived directly from land. All referred questions were answered against the assessees. en-us Thu, 06 Feb 1936 00:00:00 +0530 Mon, 22 Aug 2016 18:16:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185651 Interest on money borrowed to meet land revenue and agricultural expenses was held not deductible under section 10(2)(iii), because that allowance applies only to capital borrowed for business purposes assessable under the Act. Rent from a flour mill-site was not agricultural income, as it was not derived from land used for agriculture. Lambardari fees were treated as taxable remuneration for collecting land revenue and not as an exempt allowance or agricultural income. Net commission on sale of tenants' produce was also not agricultural income, since it was commission for arranging sales and not income derived directly from land. All referred questions were answered against the assessees. Case-Laws Income Tax Thu, 06 Feb 1936 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185651