https://www.taxtmi.com/caselaws?id=25423 Legal and audit expenses were deductible under section 5(j) of the Kerala Agricultural Income-tax Act, 1950 because the expenditure was neither capital nor personal and was laid out wholly and exclusively for the purpose of deriving agricultural income. The Kerala HC applied the same principle to remuneration paid to auditors and legal charges, and held that such outgoings fell within the statutory deduction. The issue was answered in the affirmative in favour of the assessee and against the Revenue. en-us Tue, 19 Dec 1978 00:00:00 +0530 Thu, 28 Jan 2010 15:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25423 Legal and audit expenses were deductible under section 5(j) of the Kerala Agricultural Income-tax Act, 1950 because the expenditure was neither capital nor personal and was laid out wholly and exclusively for the purpose of deriving agricultural income. The Kerala HC applied the same principle to remuneration paid to auditors and legal charges, and held that such outgoings fell within the statutory deduction. The issue was answered in the affirmative in favour of the assessee and against the Revenue. Case-Laws Income Tax Tue, 19 Dec 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25423