https://www.taxtmi.com/caselaws?id=29167 Interest paid on a mortgage or other capital charge over land from which agricultural income is derived is deductible under section 5(f) if the statutory conditions are met; the purpose for which the mortgage was created is irrelevant. Deduction of bonus paid to employees required fresh factual examination, including whether the expense was attributable to the mature area that produced income. Assessment based on an inspection report prepared in a later year could not be mechanically applied to earlier years and required reconsideration of the relevant facts. The impugned orders were set aside to the extent they denied the deductions, and the matter was remitted for fresh determination. en-us Fri, 14 Nov 1980 00:00:00 +0530 Thu, 11 Mar 2010 12:21:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29167 Interest paid on a mortgage or other capital charge over land from which agricultural income is derived is deductible under section 5(f) if the statutory conditions are met; the purpose for which the mortgage was created is irrelevant. Deduction of bonus paid to employees required fresh factual examination, including whether the expense was attributable to the mature area that produced income. Assessment based on an inspection report prepared in a later year could not be mechanically applied to earlier years and required reconsideration of the relevant facts. The impugned orders were set aside to the extent they denied the deductions, and the matter was remitted for fresh determination. Case-Laws Income Tax Fri, 14 Nov 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29167