https://www.taxtmi.com/caselaws?id=191924 Interest on arrears of rent payable by a ryot to a landholder was treated as an additional amount arising from the tenant's default, not as part of the rent itself. The Madras High Court held that it was not revenue derived from land and therefore did not fall within agricultural income under the Income-tax Act. The existence of a charge under the Madras Estates Land Act did not change the source or character of the receipt for tax purposes, and the court distinguished cases involving a fresh loan transaction. The interest was accordingly taxable. en-us Fri, 27 Aug 1943 00:00:00 +0630 Wed, 03 May 2017 16:23:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191924 Interest on arrears of rent payable by a ryot to a landholder was treated as an additional amount arising from the tenant's default, not as part of the rent itself. The Madras High Court held that it was not revenue derived from land and therefore did not fall within agricultural income under the Income-tax Act. The existence of a charge under the Madras Estates Land Act did not change the source or character of the receipt for tax purposes, and the court distinguished cases involving a fresh loan transaction. The interest was accordingly taxable. Case-Laws Income Tax Fri, 27 Aug 1943 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=191924