https://www.taxtmi.com/caselaws?id=36296 The High Court affirmed that the assessee acted as an agent of the Punjab Government in the distribution of fertilizers, leading to the income not being exempt under Section 81(i)(d) of the Income-tax Act. The court also upheld the allowance of the entire expenses claimed by the assessee against taxable income, emphasizing the indivisible nature of the business activities. The decision was based on a thorough examination of the agreement terms and legal principles concerning agency relationships and business expense deductions. en-us Fri, 29 Feb 1980 00:00:00 +0530 Sat, 20 Mar 2010 14:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36296 The High Court affirmed that the assessee acted as an agent of the Punjab Government in the distribution of fertilizers, leading to the income not being exempt under Section 81(i)(d) of the Income-tax Act. The court also upheld the allowance of the entire expenses claimed by the assessee against taxable income, emphasizing the indivisible nature of the business activities. The decision was based on a thorough examination of the agreement terms and legal principles concerning agency relationships and business expense deductions. Case-Laws Income Tax Fri, 29 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36296