https://www.taxtmi.com/caselaws?id=26628 Insurance premium paid for cash in transit was treated as deductible business expenditure where the movement of cash was intimately connected with the estate's operations and was incurred wholly and exclusively for earning agricultural income. The fact that the claim did not fall within the specific provision dealing with insurance against loss or damage to crop or property did not prevent allowance under the broader business expenditure provision. The premium was therefore admissible as a deduction under section 5(j), and the reference was answered in favour of the assessee. en-us Tue, 24 Jul 1984 00:00:00 +0530 Sat, 06 Feb 2010 14:01:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26628 Insurance premium paid for cash in transit was treated as deductible business expenditure where the movement of cash was intimately connected with the estate's operations and was incurred wholly and exclusively for earning agricultural income. The fact that the claim did not fall within the specific provision dealing with insurance against loss or damage to crop or property did not prevent allowance under the broader business expenditure provision. The premium was therefore admissible as a deduction under section 5(j), and the reference was answered in favour of the assessee. Case-Laws Income Tax Tue, 24 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26628