https://www.taxtmi.com/caselaws?id=7340 Expenditure on an auditor's remuneration for preparing statements and filing an agricultural income-tax return was held not deductible under section 5(j) because it was incurred to ascertain tax liability after income had been earned, not to derive agricultural income. Interest on debentures secured by a floating charge was also held not deductible under section 5(f) because a floating charge is not a mortgage or capital charge on specific property until it crystallises and fastens on the land. As no crystallisation had occurred, the claim failed. Both referred questions were answered against the assessee. en-us Tue, 20 Aug 1968 00:00:00 +0530 Wed, 18 Feb 2009 08:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7340 Expenditure on an auditor's remuneration for preparing statements and filing an agricultural income-tax return was held not deductible under section 5(j) because it was incurred to ascertain tax liability after income had been earned, not to derive agricultural income. Interest on debentures secured by a floating charge was also held not deductible under section 5(f) because a floating charge is not a mortgage or capital charge on specific property until it crystallises and fastens on the land. As no crystallisation had occurred, the claim failed. Both referred questions were answered against the assessee. Case-Laws Income Tax Tue, 20 Aug 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7340