https://www.taxtmi.com/caselaws?id=189964 The Privy Council affirmed the High Court's decision in favor of the respondent money-lender, allowing the deduction of substantial legal expenditure under Section 10(2)(ix) of the Indian Income-tax Act, 1922. The court held that the expenditure was incurred for the purpose of earning profits in the money-lending business, emphasizing the inherent connection between the legal dispute and the business operations. The appellant's appeal was dismissed, and they were directed to bear the costs, highlighting the importance of establishing a direct link between expenditures and profit-earning activities for tax deduction purposes. en-us Fri, 12 Dec 1941 00:00:00 +0630 Fri, 27 Jan 2017 18:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189964 The Privy Council affirmed the High Court's decision in favor of the respondent money-lender, allowing the deduction of substantial legal expenditure under Section 10(2)(ix) of the Indian Income-tax Act, 1922. The court held that the expenditure was incurred for the purpose of earning profits in the money-lending business, emphasizing the inherent connection between the legal dispute and the business operations. The appellant's appeal was dismissed, and they were directed to bear the costs, highlighting the importance of establishing a direct link between expenditures and profit-earning activities for tax deduction purposes. Case-Laws Income Tax Fri, 12 Dec 1941 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=189964