https://www.taxtmi.com/caselaws?id=5153 Income from a business carried on by trustees was treated as earned income where it fell under the head of profits and gains of business, profession or vocation, even though the trustees had no beneficial interest in it. On that footing, the 40 per cent share payable to the thavazies was not assessable as unearned income in the trustees' hands and was not liable to special surcharge, because the surcharge under the relevant Finance Acts applied only to unearned income. Section 41 did not change that result. en-us Mon, 10 Feb 1969 00:00:00 +0530 Thu, 20 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5153 Income from a business carried on by trustees was treated as earned income where it fell under the head of profits and gains of business, profession or vocation, even though the trustees had no beneficial interest in it. On that footing, the 40 per cent share payable to the thavazies was not assessable as unearned income in the trustees' hands and was not liable to special surcharge, because the surcharge under the relevant Finance Acts applied only to unearned income. Section 41 did not change that result. Case-Laws Income Tax Mon, 10 Feb 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5153