https://www.taxtmi.com/caselaws?id=7844 Common overhead and managerial expenses of a company carrying on a single integrated sugar-manufacturing and sugarcane-growing activity were held deductible in full in computing business income. The Court applied the principle that expenditure laid out wholly and exclusively for the business remains allowable under section 10(2)(xv) of the Indian Income-tax Act, 1922, and ruled that rule 23 of the Indian Income-tax Rules, 1922, does not permit apportionment of common expenses where there are no separate and severable businesses. Rule 24 was read as showing that any artificial agricultural-business allocation must be expressly provided by statute. Accordingly, no proportionate disallowance of the common overheads was justified. en-us Fri, 27 Mar 1970 00:00:00 +0530 Thu, 19 Mar 2009 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7844 Common overhead and managerial expenses of a company carrying on a single integrated sugar-manufacturing and sugarcane-growing activity were held deductible in full in computing business income. The Court applied the principle that expenditure laid out wholly and exclusively for the business remains allowable under section 10(2)(xv) of the Indian Income-tax Act, 1922, and ruled that rule 23 of the Indian Income-tax Rules, 1922, does not permit apportionment of common expenses where there are no separate and severable businesses. Rule 24 was read as showing that any artificial agricultural-business allocation must be expressly provided by statute. Accordingly, no proportionate disallowance of the common overheads was justified. Case-Laws Income Tax Fri, 27 Mar 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7844