https://www.taxtmi.com/caselaws?id=16251 The Appellate Tribunal was correct in deleting the disallowance of farm expenditure incurred by the assessee for the assessment year 1976-77. The court ruled in favor of the assessee, holding that the expenditure on the farm, despite being related to agricultural land, was directly connected to the business activities of manufacturing and selling tractors and farm equipment. The expenditure had a clear nexus with the business and qualified for deduction under section 37 of the Act. The court emphasized that if expenditure is incurred wholly and exclusively for the purpose of the assessee's business, it must be allowed as a deduction. en-us Thu, 11 Jun 1998 00:00:00 +0530 Fri, 04 Sep 2009 17:00:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16251 The Appellate Tribunal was correct in deleting the disallowance of farm expenditure incurred by the assessee for the assessment year 1976-77. The court ruled in favor of the assessee, holding that the expenditure on the farm, despite being related to agricultural land, was directly connected to the business activities of manufacturing and selling tractors and farm equipment. The expenditure had a clear nexus with the business and qualified for deduction under section 37 of the Act. The court emphasized that if expenditure is incurred wholly and exclusively for the purpose of the assessee's business, it must be allowed as a deduction. Case-Laws Income Tax Thu, 11 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16251