https://www.taxtmi.com/caselaws?id=273467 A loss on sale of cattle after a dairy business had already ceased was not deductible under section 10(2)(vii)(a), because the allowance applies only to animals used for the relevant business and becoming permanently useless for that business; the cattle were sold due to closure, not uselessness, so no deduction was available. Expenditure incurred to acquire proprietary rights in land, including connected conveyancing and registration costs, was treated as capital expenditure rather than revenue outlay, so it was not deductible in computing taxable profits. The stated ratio is that acquisition of proprietary rights in land is capital in nature, and animal-loss relief depends on use in the specific business and permanent uselessness for that business. en-us Thu, 05 May 1938 00:00:00 +0530 Wed, 27 Jun 2018 18:51:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273467 A loss on sale of cattle after a dairy business had already ceased was not deductible under section 10(2)(vii)(a), because the allowance applies only to animals used for the relevant business and becoming permanently useless for that business; the cattle were sold due to closure, not uselessness, so no deduction was available. Expenditure incurred to acquire proprietary rights in land, including connected conveyancing and registration costs, was treated as capital expenditure rather than revenue outlay, so it was not deductible in computing taxable profits. The stated ratio is that acquisition of proprietary rights in land is capital in nature, and animal-loss relief depends on use in the specific business and permanent uselessness for that business. Case-Laws Income Tax Thu, 05 May 1938 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273467