https://www.taxtmi.com/caselaws?id=8845 The second proviso to section 5(k) of the Madras Agricultural Income-tax Act was interpreted as applying the 25% ceiling to gross agricultural income, not to income arrived at after deductions under section 5. The Act defines agricultural income broadly, while the computation scheme under section 5 first requires deductions to be worked out before net taxable income can be determined. Because the proviso operates at an earlier stage of computation, the reference to agricultural income was held to be in its wider gross sense unless the statute clearly provides otherwise. The assessees were therefore entitled to the deduction on that basis. en-us Tue, 19 Sep 1972 00:00:00 +0530 Tue, 16 Jun 2009 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8845 The second proviso to section 5(k) of the Madras Agricultural Income-tax Act was interpreted as applying the 25% ceiling to gross agricultural income, not to income arrived at after deductions under section 5. The Act defines agricultural income broadly, while the computation scheme under section 5 first requires deductions to be worked out before net taxable income can be determined. Because the proviso operates at an earlier stage of computation, the reference to agricultural income was held to be in its wider gross sense unless the statute clearly provides otherwise. The assessees were therefore entitled to the deduction on that basis. Case-Laws Income Tax Tue, 19 Sep 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8845