https://www.taxtmi.com/caselaws?id=285694 The court held that the income derived from a transaction was assessable to income-tax as it constituted a simple mortgage, not exempt agricultural income. Additionally, interest paid on Government securities was deemed assessable to income-tax, with prior payments to vendors not deductible. The court also ruled that expenses for collecting interest on securities were not deductible. The assessee was directed to pay the costs of the reference and a hearing fee of Rs. 100. en-us Mon, 25 Nov 1929 00:00:00 +0530 Wed, 22 Jan 2020 14:51:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285694 The court held that the income derived from a transaction was assessable to income-tax as it constituted a simple mortgage, not exempt agricultural income. Additionally, interest paid on Government securities was deemed assessable to income-tax, with prior payments to vendors not deductible. The court also ruled that expenses for collecting interest on securities were not deductible. The assessee was directed to pay the costs of the reference and a hearing fee of Rs. 100. Case-Laws Income Tax Mon, 25 Nov 1929 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285694