https://www.taxtmi.com/caselaws?id=190810 Section 12 of the Indian Income-tax Act, 1922 was held to allow only the allowances specifically provided under section 10(2), and the second proviso to section 10(2)(vii) did not extend into that computation. The proviso was treated as a charging fiction for assessment under section 10, deeming certain excess sale proceeds to be profits, but not as a restriction on the allowance itself. Because section 12 contained no express provision adopting that fiction, it was not applied to income, profits and gains computed under section 12. The construction of the taxing provision was governed by its language alone, without importing intendment. en-us Tue, 13 Mar 1962 00:00:00 +0530 Tue, 28 Feb 2017 17:31:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190810 Section 12 of the Indian Income-tax Act, 1922 was held to allow only the allowances specifically provided under section 10(2), and the second proviso to section 10(2)(vii) did not extend into that computation. The proviso was treated as a charging fiction for assessment under section 10, deeming certain excess sale proceeds to be profits, but not as a restriction on the allowance itself. Because section 12 contained no express provision adopting that fiction, it was not applied to income, profits and gains computed under section 12. The construction of the taxing provision was governed by its language alone, without importing intendment. Case-Laws Income Tax Tue, 13 Mar 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190810