https://www.taxtmi.com/caselaws?id=290760 Interest on arrears of mustajiri rent was treated as agricultural income because the annual payment under the lease was characterised as rent arising from an interest in land. The court reasoned that default interest merely followed the character of the underlying rent, and the contractual auction form of the arrangement did not change that result. No distinction was accepted between interest on arrears of mustajiri rent and interest on arrears of rent payable by a cultivating tenant. The impugned interest was therefore not assessable to income tax and retained the exemption attached to agricultural income. en-us Thu, 12 Mar 1942 00:00:00 +0630 Thu, 15 Oct 2020 10:27:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290760 Interest on arrears of mustajiri rent was treated as agricultural income because the annual payment under the lease was characterised as rent arising from an interest in land. The court reasoned that default interest merely followed the character of the underlying rent, and the contractual auction form of the arrangement did not change that result. No distinction was accepted between interest on arrears of mustajiri rent and interest on arrears of rent payable by a cultivating tenant. The impugned interest was therefore not assessable to income tax and retained the exemption attached to agricultural income. Case-Laws Income Tax Thu, 12 Mar 1942 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=290760