https://www.taxtmi.com/caselaws?id=28063 Interest on borrowings used to maintain immature coffee plants in a replanted area falls within the general deduction for expenditure laid out wholly and exclusively for the purpose of the land. The restricted deduction for interest on borrowed amounts applies only where the money was actually spent on the land from which agricultural income is derived. Because immature plants did not yield income in the relevant year, the special limitation did not apply to that borrowing, and the interest remained deductible under the general provision. en-us Fri, 07 Oct 1983 00:00:00 +0530 Wed, 17 Feb 2010 17:50:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28063 Interest on borrowings used to maintain immature coffee plants in a replanted area falls within the general deduction for expenditure laid out wholly and exclusively for the purpose of the land. The restricted deduction for interest on borrowed amounts applies only where the money was actually spent on the land from which agricultural income is derived. Because immature plants did not yield income in the relevant year, the special limitation did not apply to that borrowing, and the interest remained deductible under the general provision. Case-Laws Income Tax Fri, 07 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28063