https://www.taxtmi.com/caselaws?id=7518 U.P. large land holdings tax was not deductible in computing business income because it was a levy on the land holdings, not on the assessees in their trading capacity. For expenditure to qualify under section 10(2)(xv) of the Indian Income-tax Act, 1922, it had to be incurred wholly and exclusively for business and bear a direct, intimate nexus with business operations. On the facts, the payment lacked that connection with the tea business, and the assessees acted only as the medium of payment. The deduction was therefore disallowed. en-us Wed, 01 Jan 1969 00:00:00 +0530 Sat, 21 Feb 2009 19:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7518 U.P. large land holdings tax was not deductible in computing business income because it was a levy on the land holdings, not on the assessees in their trading capacity. For expenditure to qualify under section 10(2)(xv) of the Indian Income-tax Act, 1922, it had to be incurred wholly and exclusively for business and bear a direct, intimate nexus with business operations. On the facts, the payment lacked that connection with the tea business, and the assessees acted only as the medium of payment. The deduction was therefore disallowed. Case-Laws Income Tax Wed, 01 Jan 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7518