https://www.taxtmi.com/caselaws?id=277067 Agricultural income does not lose its character merely because it is received through a mutawalli-cum-beneficiary under waqf deeds; if the receipt remains traceable to the waqf's agricultural source, it is treated as agricultural income in the beneficiary's hands. Where waqf income is a composite of agricultural and non-agricultural receipts and forms a common fund, the surplus must be apportioned rateably in the same proportions as those components contributed to the fund. This preserves the exempt character of the agricultural portion while bringing only the non-agricultural portion into tax computation. en-us Tue, 17 Feb 1942 00:00:00 +0630 Fri, 23 Nov 2018 14:35:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277067 Agricultural income does not lose its character merely because it is received through a mutawalli-cum-beneficiary under waqf deeds; if the receipt remains traceable to the waqf's agricultural source, it is treated as agricultural income in the beneficiary's hands. Where waqf income is a composite of agricultural and non-agricultural receipts and forms a common fund, the surplus must be apportioned rateably in the same proportions as those components contributed to the fund. This preserves the exempt character of the agricultural portion while bringing only the non-agricultural portion into tax computation. Case-Laws Income Tax Tue, 17 Feb 1942 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=277067