https://www.taxtmi.com/caselaws?id=36851 Loss from Matkhera Farm was treated as arising from agricultural operations because the land was used for agriculture and held under rights continuing under the zamindari abolition regime; on that basis, it fell within the agricultural income framework and was excluded from taxable computation. Expenditure on construction of Molasses Fund Quarters was held to be capital in nature, as it related to extension of quarters and formed part of the capital structure rather than recurring revenue outlay. Amalgamation expenses were also treated as capital expenditure because they were incurred in connection with the creation of the assessee-company and were not deductible as revenue expenditure. All points were answered for the Revenue. en-us Wed, 17 Oct 1979 00:00:00 +0530 Thu, 25 Mar 2010 10:27:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36851 Loss from Matkhera Farm was treated as arising from agricultural operations because the land was used for agriculture and held under rights continuing under the zamindari abolition regime; on that basis, it fell within the agricultural income framework and was excluded from taxable computation. Expenditure on construction of Molasses Fund Quarters was held to be capital in nature, as it related to extension of quarters and formed part of the capital structure rather than recurring revenue outlay. Amalgamation expenses were also treated as capital expenditure because they were incurred in connection with the creation of the assessee-company and were not deductible as revenue expenditure. All points were answered for the Revenue. Case-Laws Income Tax Wed, 17 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36851